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businessMultiple (Bank of Baroda, SBI, Indian Bank via PM SVANidhi Scheme)

PM SVANidhi Credit Card

“A genuinely free, low-interest RuPay credit card purpose-built for India's street vendors and micro-entrepreneurs who are otherwise excluded from mainstream credit, offering UPI integration and a clear credit-limit upgrade path.”

Best for: PM SVANidhi-enrolled street vendors and micro-business owners in urban or rural India seeking their first formal credit card

Annual Fee$0
APR1.5% per month (18% per annum) on overdue balances
Sign-up BonusNo sign-up bonus mentioned; initial credit limit of ₹10,000 upon approval
Credit Scorefair
Reviewed by Sarkari DNA
246K views2026-02-03

💳 Key Features & Perks

  • ✦Lifetime free card — zero joining fee, zero annual fee
  • ✦RuPay network card with full UPI integration (Google Pay, PhonePe QR payments)
  • ✦Starting credit limit of ₹10,000, upgradeable to ₹20,000 then ₹50,000 with timely repayments
  • ✦50-day interest-free period (30-day billing cycle + 20-day payment window)
  • ✦1.5% monthly interest only on overdue amounts — no interest if paid on time
  • ✦No late payment fee on outstanding balances up to ₹500
  • ✦1 reward point per ₹100 spent (1 point = ₹0.20), redeemable as cashback
  • ✦EMI/installment payment option available on outstanding balance

🚀 How to Maximize Value

01Step 1

First obtain a PM SVANidhi micro-loan (₹10,000–₹50,000) and repay it on time at least once before applying for the credit card.

Pro TipSome branches require two timely repayments — confirm with your local Urban Local Body office.

02Step 2

Apply on the official PM SVANidhi portal using your registered mobile number, Aadhaar KYC, and your vendor category (ULB identity card, LOR number, or rural/semi-urban certificate).

Pro TipYou can select your preferred bank (BOB, SBI, Indian Bank) during application or wait for the bank to contact you.

03Step 3

Link the RuPay card to Google Pay or PhonePe immediately after receiving it so you can pay via QR code without touching your bank balance.

Pro TipUse the card for all daily business purchases to accumulate reward points — every ₹100 earns ₹0.20 back.

04Step 4

Always pay the full statement balance before the due date to exploit the 50-day interest-free window and avoid the 1.5%/month interest charge.

Pro TipSet a calendar reminder 5 days before the due date to ensure payment clears in time.

05Step 5

Maintain a clean repayment record to trigger automatic credit limit increases from ₹10,000 → ₹20,000 → ₹50,000.

Pro TipThe government has historically increased loan limits under SVANidhi; the same upgrade path is expected for this card.

⚡ Pro Tips

  • ✓Bills under ₹500 overdue carry zero late payment fee — a safety net if you accidentally fall short by a small amount.
  • ✓Since this is a government-backed scheme card, the 1.5%/month interest rate is significantly lower than private bank credit cards which can charge 25–40% per annum.
  • ✓The reward point value (₹0.20 per point on BOB's version) may vary by issuing bank — check your specific bank's SVANidhi card terms before assuming the same rate.
  • ✓First-time applicants without an existing SVANidhi loan must apply for the loan first via the 'Apply Loan' option on the portal before the 'Apply Credit Card' option becomes relevant.

Annual Value Breakdown

Estimated based on typical spending patterns. Your mileage may vary.

$240Total Value
-$0Annual Fee
$240Net Value
Reward points on ₹10,000/month spend (1 pt per ₹100 @ ₹0.20/pt × 12 months)240
Annual fee savings vs. typical bank credit cards500
Interest savings (50-day interest-free period vs. paying from bank account immediately)0

Sarkari DNA reviews the PM SVANidhi Credit Card from Multiple (Bank of Baroda, SBI, Indian Bank via PM SVANidhi Scheme), breaking down whether the no-fee card is worth it based on real spending math and insider strategies.

A genuinely free, low-interest RuPay credit card purpose-built for India's street vendors and micro-entrepreneurs who are otherwise excluded from mainstream credit, offering UPI integration and a clear credit-limit upgrade path.

Last updated: 2026-03-31