Business Loans

Mudra Loan Calculator

Calculate EMI for unsecured MSME business loans under the Pradhan Mantri Mudra Yojana (PMMY).

PMMY Scheme Selection

Usually 8% to 12% p.a.

3 Years

Max tenure is 5 years.

Mudra EMI Details

Monthly EMI

₹9,751

Principal Loan₹3,00,000
Total Interest Payable+₹51,026
Total Payment₹3,51,026

Key Facts About Mudra Loans

  • No Collateral Required: Mudra loans are 100% unsecured. Banks are not allowed to ask for collateral or third-party guarantees for loans up to ₹10 Lakhs.
  • No Processing Fees: For the "Shishu" and "Kishore" categories, banks generally waive all processing fees. A nominal fee may be charged for the Tarun category.
  • Who can apply? Any Indian citizen who has a business plan for a non-farm sector income-generating activity such as manufacturing, processing, trading, or service sector, and whose credit need is less than ₹10 lakh can approach a Bank, MFI, or NBFC for a MUDRA loan.