There is no such prime minister interest free loan scheme in India. No major Prime Minister scheme offers completely interest-free loans; in the general case most government schemes provide low interest, interest subvention, or collateral-free loans, not fully free credit. For instance;
PM SVANidhi (Street Vendor’s AtmaNirbhar Nidhi): This scheme supports street vendors with micro credit working-capital loans. But the loans are not interest-free: there’s an interest subsidy of 7% offered to eligible vendors, making the effective cost lower but not zero.
Pradhan Mantri Mudra Yojana (PMMY): This is a flagship scheme to provide collateral-free business loans up to Rs. 10 lakh (and more in some categories). However, these loans are not interest-free; different banks set their own interest rates under PMMY.
Short-Term Agricultural Loans Subvention: The government provides a 1.5% per annum interest subvention on short-term agricultural loans up to Rs3 lakh. While this makes financing cheaper for farmers, it’s not a zero-interest loan.
PM-Vidyalaxmi (Education Loans): For students in quality higher education institutions, there is an education loan scheme that offers a 3% interest subvention, not full waiver.
I hope this helps!
Choose NB InstaCash to Get Instant Disbursal of Personal Loan of Up to 10 Lakhs in Your Account!Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Is there Any Prime Minister Interest Free Loan Scheme in India?
ali
15 Views
1
11 days
2025-11-24T19:25:49+00:00 2025-11-24T19:25:51+00:00Comment
Share