Mudra Loan EMI Calculator
EMI on a PMMY Mudra loan — Shishu/Kishor/Tarun slabs, collateral-free terms and realistic rate bands.
Formula
Disclaimer: Indicative math for comparison only. Actual instalments vary with lender rounding, fees, insurance, daily vs monthly reducing methods and rate resets. This is not financial advice — confirm the final schedule with your lender.
Disclaimer: This tool is for general informational and estimation purposes only and is not professional financial, tax, accounting or legal advice. All figures are estimates — verify with a qualified professional before making decisions. Read the full disclaimer.
Need mudra loan emi calculator results fast? Skip the spreadsheet and get a clear, defensible answer in one step — free, private and instant, recalculating live as you change any input.
About Mudra Loan EMI Calculator
Mudra (PMMY) loans fund non-corporate micro-enterprises — kirana stores, tailors, food stalls, service units — through banks, NBFCs and MFIs, collateral-free by design (covered under the CGFMU guarantee). The slabs: Shishu up to ₹50,000, Kishor ₹50,001–₹5 lakh, Tarun ₹5–10 lakh, and Tarun Plus to ₹20 lakh for borrowers who repaid a previous Tarun loan. The default models a Kishor-top ₹5,00,000 at 10% over 5 years. There is no government-subsidized 'Mudra rate' — lenders price per their own matrices (banks ~9.5–12.5%, MFIs higher on small Shishu tickets), and PMMY simply guarantees and targets the segment. Beware agents charging 'Mudra processing fees' — application is free/nominal at branches and via the Udyamimitra portal; paying a tout does not improve approval odds. Approval rides on a credible activity plan: quotations for the asset, simple cash-flow projections and existing bank-statement hygiene matter more than paperwork volume at this ticket size. Women borrowers and certain categories get margin/rate concessions at many PSU banks. Repay on time — the Tarun Plus slab and future CC limits are unlocked by your PMMY track record.
How to use Mudra Loan EMI Calculator
- 1Enter Loan amount, Interest rate (per year, reducing balance) (%), Tenure (years) into the Mudra Loan EMI Calculator.
- 2The result is computed automatically using EMI = P · r · (1+r)^n / ((1+r)^n − 1) where r = annual rate ÷ 12, n = months — there is no button to press; it updates live as you type.
- 3Change any input to model a different scenario, then use “Copy result link” to share the exact numbers.
Why use Mudra Loan EMI Calculator?
- ✓Computes mudra loan emi calculator instantly with the correct formula — no spreadsheet needed
- ✓100% free and unlimited, with no sign-up, login or paywall
- ✓Runs entirely in your browser, so the figures you enter are never uploaded or stored
- ✓Shows the formula, a live worked example and references so you can defend the number
Frequently asked questions
Mudra loan par interest rate kitna lagta hai?+
Koi fixed sarkari rate nahi hai — bank apne MCLR/EBLR + spread par dete hain, aam taur par 9.5–12.5% banks me, MFI/NBFC me zyada (chhote Shishu tickets par 18–22% tak). Rate aapki profile aur lender par depend karta hai; PMMY sirf guarantee aur targeting deta hai, subsidy nahi.
Kya Mudra loan ke liye collateral ya guarantor chahiye?+
Nahi — PMMY loans collateral-free hain aur CGFMU guarantee unhe cover karti hai. Bank sirf business ka proof (activity, address), KYC, aur Kishor/Tarun me bank statements + simple projections maangta hai. Koi bank collateral maange to woh PMMY ke against hai — branch manager se PMMY ke under hi process karne ko kahein.
Shishu, Kishor, Tarun — main kaunsa apply karoon?+
Need se chuniye, slab se nahi: ₹50,000 tak ka stock/tools — Shishu (MFI/bank, fastest); ₹5 lakh tak ki machine/renovation — Kishor; ₹10 lakh tak expansion — Tarun; pehle Tarun chuka chuke hain to ₹20 lakh ka Tarun Plus. Har slab me documentation thoda badhta hai aur rate profile par tighter hota hai.
Mudra loan default hone par kya hota hai?+
Guarantee bank ko bachati hai, aapko nahi: default aapke CIBIL par jata hai, recovery process normal loan jaisa chalta hai, aur future PMMY/bank credit band ho jata hai. EMI (yahan ~₹10,600 default par) ko worst-month cash flow se test karke hi amount finalize karein.
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