Mudra Loan Calculator
This mudra loan calculator estimates the monthly EMI and total interest on a PM Mudra Yojana (PMMY) loan, India's collateral-free credit scheme for small and micro businesses. PMMY loans span four tiers — Shishu, Kishor, Tarun and Tarun Plus — each covering a different loan-amount range, but banks set their own rate off their MCLR rather than a single government-fixed rate. Pick your tier, enter your bank's quoted rate and tenure to see your EMI breakdown.
Mudra loans are grouped into 4 tiers by loan amount — pick the one matching what you need; typical bank rates run roughly 9-12% for Shishu up to 11-20% for Tarun/Tarun Plus, but every bank sets its own rate off its MCLR.
How much you want to borrow under PMMY, within your chosen tier's range.
Mudra loans have no fixed government rate — enter the rate your bank has quoted you.
How many years you'll take to repay the loan.
Monthly EMI
सेव करने के लिए लॉग इन करें₹9,822
Your fixed monthly repayment at this rate and tenure.
Frequently asked questions
Do I need collateral for a Mudra loan?+
No — PMMY loans are collateral-free by design, which is the scheme's core appeal for small and micro business owners who don't have assets to pledge.
Which Mudra category should I choose?+
Pick the tier that matches the loan amount you actually need — Shishu for very small working-capital needs, Kishor for an established small business, and Tarun or Tarun Plus for larger expansion needs. The tier mainly determines your loan-amount range, not automatically your rate.
Is the Mudra loan interest rate fixed by the government?+
No — the government sets the scheme's eligibility and collateral-free structure, but each bank prices the loan itself off its own MCLR plus a spread, so rates genuinely differ by lender. Always compare quotes from more than one bank.
Can I prepay a Mudra loan early?+
Most banks allow prepayment on Mudra loans, though some may charge a foreclosure fee on larger Tarun or Tarun Plus loans — confirm the exact terms with your lender before signing.
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