PM Vishwakarma Loan: Eligibility, Trades and Repayment

PM Vishwakarma lends registered artisans in 18 traditional trades up to ₹1 lakh, and then up to ₹2 lakh, without collateral at a fixed 5% interest. You also get paid basic training, a toolkit e-voucher worth up to ₹15,000 and a small incentive for digital payments. Before you start, note that the scheme’s portal shows its target of 30 lakh registrations was met in September 2025.

Key facts

Is registration still open?

The PM Vishwakarma portal lists a target of 30 lakh registrations by 2028 and says it was reached in September 2025. The same dashboard shows 6,20,175 applicants with a loan sanctioned, for about ₹5,320 crore in total.

The portal does not say that new enrolment has stopped. Ask your nearest Common Service Centre (CSC) or District Industries Centre whether it can take a fresh application. If you registered earlier, the loan, training and toolkit steps below still apply.

The 18 trades covered

Who can register, and who is excluded

• You must work with your hands and tools in one of the 18 family-based trades, on a self-employed basis, in the informal sector.
• You must be at least 18 and practising the trade on the day you register.
• Only one member of a family can register. Family means husband, wife and unmarried children.
• Government employees and their family members are not eligible.
• You must not have taken a loan under a similar central or state self-employment scheme, such as PMEGP, PM SVANidhi or Mudra, in the past five years. The five years count from the date that loan was sanctioned.

There is one relief on the last rule. Mudra and PM SVANidhi borrowers who have fully repaid their loan can still register. PMEGP borrowers get no such exception.

For other central schemes you may qualify for, see our government schemes page.

Registration and three-stage verification

You register through a CSC or on the portal itself. Every registration uses Aadhaar with biometric authentication. Keep these ready:

• Aadhaar and a mobile number
• Bank account details, preferably an Aadhaar-seeded account
• Ration card, or, if you have none, the Aadhaar numbers of all family members

If you have no bank account, the CSC will help you open one first. After you apply, the application goes through three checks:

Once approved, you receive a PM Vishwakarma digital certificate and ID card. You can also be linked to the Udyam Assist Platform; see our Udyam registration guide if you hold a PAN.

Training stipend and toolkit e-voucher

1. A skill assessment at a training centre makes you eligible for the toolkit incentive.
2. You use the e-voucher, worth up to ₹15,000, to buy improved tools at designated centres.
3. You attend Basic Training of 5 to 7 days (about 40 hours). Board and lodging are free.
4. After you complete it, a stipend of ₹500 a day is paid to your Aadhaar-linked bank account.
5. If you want, you can then take Advanced Training of 15 days (120 hours) or more, also with the ₹500 daily stipend.

Loan tranches, tenure and the 5% rate

The second loan cannot be given within six months of the first disbursement. You pay a fixed 5% on both tranches. The Ministry of MSME pays the bank up to 8% more as interest subvention, but only for months when your account is standard (not an NPA). A committee headed by the Secretary, DFS can revise that 8% cap.

Check the monthly outgo with our EMI calculator using 5% and the tenure above.

How banks process the loan

• Scheduled commercial banks, regional rural banks, small finance banks, cooperative banks, NBFCs and microfinance institutions can lend.
• The bank sanctions the loan against your application on the PM Vishwakarma portal.
• No collateral is taken. PAN is needed as per normal banking rules.
• If you have a credit history, the bank checks your credit report to screen out defaulters. If you have none, it cannot reject you for that reason.
• No prepayment penalty applies after six months from disbursement.
• CGTMSE guarantees the loans on a portfolio basis.

If you miss repayments

The government’s subvention stops for any month your account is not standard. You cannot get the second tranche until the first is fully repaid with a standard account.

The CGTMSE guarantee compensates the bank; it does not cancel your debt. Banks use credit reports to keep defaulters out of the scheme, so a default can also cost you future loans.

Frequently asked questions

How much loan can I get under PM Vishwakarma?

Up to ₹3 lakh in total: ₹1 lakh in the first tranche and ₹2 lakh in the second, both at 5% interest.

Is any fee charged for PM Vishwakarma registration?

No. The government bears the full cost of enrolment, registration and the certificate and ID card.

Can a tailor or barber apply?

Yes. Tailors and barbers are among the 18 trades, along with carpenters, goldsmiths, potters, masons and others.

I have a Mudra loan. Can I still apply?

Only if you have fully repaid it. Otherwise any PMEGP, PM SVANidhi or Mudra loan sanctioned in the last five years makes you ineligible.

Do I need a CIBIL score for the PM Vishwakarma loan?

If you have a credit history, the bank will check your report. If you have never borrowed, the bank cannot refuse you for lacking a report.

When do I get the ₹15,000 toolkit money?

After your skill assessment at the training centre, as an e-voucher to buy tools from designated centres, not as cash.

Till when does the scheme run?

It is approved for five years up to 2027-28.

Sources

• PM Vishwakarma portal and key indicators — Ministry of MSME (checked 16 Sep 2026)
• PM Vishwakarma scheme guidelines — Ministry of MSME (checked 16 Sep 2026)