Government Nodal AgencyArtisan & Weaver CreditArtisans & CraftsmenVerified: 2026-09-29

PM Vishwakarma Artisan Credit Card - Tranche 1 (₹1 Lakh at 5%)

Primary Lending Institution:Ministry of Micro, Small and Medium Enterprises

Concessional artisan loan of ₹1,00,000 at 5% fixed interest rate with ₹15,000 toolkit voucher.

Connected Central Government Scheme: PM Vishwakarma SchemeView Government Scheme Guidelines →

Interest RateFixed 5.00% (Subsidized with 8% MoMSME subvention)Linked to EBLR / MCLR / Risk

Loan Amount QuantumUp to ₹1,00,000Based on turnover & project cost

Repayment Tenure18 Months (1.5 years)With moratorium where applicable

Collateral SecurityStrictly zero collateral; covered under NCGTC Credit Guarantee Scheme for PM Vishwakarma

What's Missing: Crucial Fine-Print & Exclusion Gaps

Mandatory 5 to 7 days Basic Skill Training must be completed before loan disbursement. Family must practice one of the 18 designated traditional trades.

Note: Eligo publishes these regulatory and commercial exclusions directly from bank product guidelines and CGTMSE rules to protect MSME applicants from unexpected fee debits or loan rejection surprises.

What is PM Vishwakarma Artisan Credit Card - Tranche 1 (₹1 Lakh at 5%)?

Collateral-free enterprise credit at an ultra-concessional 5% fixed interest rate for verified traditional artisans and craftspersons across 18 designated trades under PM Vishwakarma Scheme.

Key Benefits & Features

Fixed 5% interest rate (central govt pays remaining 8% interest to bank); ₹15,000 modern toolkit incentive; skill verification and official PM Vishwakarma ID card.

Government Subsidy & Credit Guarantee Coverage

8% interest subvention paid by MoMSME; 100% credit guarantee by NCGTC

Enterprise Eligibility Criteria

Artisan/craftsperson working in one of 18 trades (Carpenter, Blacksmith, Potter, Sculptor, Cobbler, Mason, Weaver, Barber, Washerman, Tailor, etc.), minimum age 18 years, 1 member per family.

Business VintageNew & Existing units eligible

Min. Annual TurnoverTurnover proportionate

Processing FeeNil (100% processing fee waiver)

Prepayment TermsZero prepayment penalty; early repayment unlocks Tranche 2 (₹2 Lakh)

How to Apply (3 Verified Paths)

💼Path 1: Current Account Portal

Apply through PM Vishwakarma portal or Common Service Centre (CSC).

🌐Path 2: Official FinTech / Govt Portal

🏢Path 3: SME Banking Center Walk-In

After Gram Panchayat / ULB verification and basic training, bank disburses credit.

Eligo does not collect business loan applications or financial data. Apply directly on the verified official domain:

Visit Official Portal↗

Documents Required Checklist

Aadhaar Card, Mobile number linked to Aadhaar, Bank account details, Skill verification certificate from PM Vishwakarma training.

Frequently Asked Questions

What is the interest rate charged to the artisan?

The artisan pays a concessional fixed interest rate of only 5.00%. The remaining interest (up to 8%) is paid directly by the Ministry of MSME to the lending bank.

What are the 18 eligible trades?

Carpenters, Boat Makers, Armourers, Blacksmiths, Hammer/Tool Kit Makers, Locksmiths, Sculptors, Goldsmiths, Potters, Cobblers, Masons, Basket/Mat/Broom Makers, Traditional Doll/Toy Makers, Barbers, Garland Makers, Washermen, Tailors, and Fishing Net Makers.

What is the toolkit incentive?

Each verified beneficiary receives an e-voucher worth ₹15,000 to purchase modern digital toolkits relevant to their craft.

Is any collateral or processing fee charged?

No. The loan is 100% collateral-free, backed by NCGTC credit guarantee, and carries zero processing fees.