Financial Empowerment & Working Capital for Micro-Vendors
Street vendors, small artisans, and micro-business working capital
Free
One-time upfrontFree
Lifetime Free — no renewal feeStandard Points
On eligible spends3.50% + GST
Cross-currency spendsLast verified 3 Oct 2026
Objective editorial assessment, ideal spender profile, and primary trade-offs
The Union Bank PM SVANidhi Credit Card is a specialized financial inclusion instrument designed specifically for micro-vendors, street hawkers, and small informal merchants registered under the PM Street Vendor's AtmaNirbhar Nidhi initiative. The core strength of this card is its zero-barrier entry model—featuring zero joining fee, zero annual renewal fee, and a subsidized low interest rate of 2.00% per month (24.0% per annum), significantly lower than standard commercial credit cards. It provides a formal revolving credit line up to ₹10,000 to ₹50,000, enabling micro-entrepreneurs to purchase daily inventory, replenish stock, and build a positive credit bureau record without resorting to informal moneylenders. Weaknesses include a low credit limit ceiling, lack of premium lifestyle perks such as movie discounts or lounge passes, and strict eligibility requirements limited to validated PM SVANidhi scheme beneficiaries holding a verified Urban Local Body (ULB) recommendation. For street entrepreneurs needing transparent, low-cost liquidity, it is an essential working capital tool.
Base earning rates, partner merchant acceleration, redemption options, and exclusions
| Spend Category | Earn Rate | Reward Cap | Conditions |
|---|---|---|---|
| All Retail Spends | 1 Reward Point per ₹100 spent (0.25% valueback; 1 RP = ₹0.25) | No Cap | Standard terms apply |
Calculate estimated net cashback and points across your actual spending pattern.
Estimate your rewards using the card's current reward rates, monthly caps and applicable fee-waiver rules.
Customize monthly spend in each category. Category amounts sum directly to your monthly spend.
| Category / Reward Bucket | Monthly Spend | Rate | Effective Rate | Cap Period | Eligible Reward | Cap Status |
|---|---|---|---|---|---|---|
| All Retail Spends | ₹30,000 | 1 Reward Point per ₹100 spent (0.25% valueback; 1 RP = ₹0.25) | — | None | Calculating... | Under cap |
| Total Monthly Cashback | ₹30,000 | - | — | - | ₹0 / mo | Zero cap loss |
₹3.6 lakh
12 billing cycles₹0
0% blended return₹0
Standard renewal+₹0 / yr
Rewards - FeeDomestic and international lounge privileges, spend hurdles, and participating terminals
This card is tailored primarily for shopping rewards, cashback, or specific co-branded spend and does not include complimentary airport lounge visits.
Complete breakdown of joining, renewal, forex, financing APR, and transaction charges
Key Terms & Conditions for Union Bank PM SVANidhi Credit Card: • Joining & Annual Fee: Lifetime Free (₹0 joining fee and ₹0 annual maintenance fee). • Scheme Eligibility: Exclusively for street vendors and micro-traders holding valid PM SVANidhi Scheme certification and Urban Local Body (ULB) vendor identity cards. • Credit Limits: Revolving limits assigned between ₹10,000 and ₹50,000 based on scheme tranche clearance and prompt repayment track record. • Finance Charges: Concessional interest rate of 2.00% per month (24.0% annualized), with interest subvention benefits applicable as per Central Government norms. • Digital Cashback Incentives: Monthly digital transaction incentives credited directly to linked bank accounts upon completing UPI QR merchant transactions. • Cash Withdrawal: Up to 20% of sanctioned limit available at bank ATMs subject to standard transaction processing charges.
Evaluate whether this card's perks and waiver threshold justify its Free renewal fee.
Income criteria, minimum age, CIBIL score benchmark, and verification checklist
Eligibility criteria not specified
Verified eligibility criteria are not currently available for this card. Check the issuer's latest terms before applying.
Common questions regarding Union Bank PM SVANidhi Credit Card application, fees, reward redemption, and eligibility
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Direct online application on the official Union Bank of India portal with paperless verification.
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