MUDRA Loan EMI Calculator

PM MUDRA (Pradhan Mantri Micro Units Development & Refinance Agency) Loan is a flagship government scheme launched by the Government of India to provide financial support to micro, small, and medium enterprises (MSMEs). The scheme aims to promote entrepreneurship, support small businesses, and create employment opportunities across India.

MUDRA Loan Categories

• Shishu: Loans up to ₹50,000 for new businesses and startups. This category is designed for entrepreneurs who are just starting their journey.
• Kishore: Loans from ₹50,001 to ₹5,00,000 for established businesses looking to expand operations, purchase equipment, or increase working capital.
• Tarun: Loans from ₹5,00,001 to ₹10,00,000 for well-established businesses seeking growth capital, technology upgrades, or market expansion.

Key Features

• No collateral required for loans up to ₹10 lakhs, making it accessible to small entrepreneurs
• Competitive interest rates starting from 7.5% per annum, varying by bank and category
• Flexible repayment tenure up to 7 years, allowing businesses to plan their cash flow
• Available through various banks including SBI, IOB, PNB, Canara Bank, BOI, HDFC, Indian Bank, BOB, Central Bank of India, Union Bank, ICICI, and other participating banks
• Quick processing and minimal documentation requirements
• Supports various business activities including manufacturing, trading, services, and allied activities
• Salary account holders may get preferential rates and higher eligibility limits

Eligibility Criteria

• Indian citizens aged 18-65 years
• Micro, small, or medium enterprises engaged in non-farm income generating activities
• Minimum monthly income requirements vary by bank (typically ₹15,000-25,000)
• Good credit history and repayment capacity
• Business should be engaged in manufacturing, trading, or service activities
• Existing businesses should have a track record of at least 6 months to 1 year

How to Use This Calculator

• EMI Calculator: Enter your loan amount, select your bank and MUDRA category, and get instant EMI calculations with detailed payment schedules and visual charts
• Salary-Based Calculator: Enter your monthly salary, existing EMIs, and age to determine your maximum eligible loan amount and category. This is especially useful for SBI and other bank customers with salary accounts
• Compare rates across different banks including SBI, IOB, PNB, Canara Bank, BOI, HDFC, Indian Bank, BOB, Central Bank of India, Union Bank, and ICICI
• View EMI charts to visualize your payment schedule over time
• Export payment schedules to CSV for detailed financial planning and documentation

Bank-Specific Information

Different banks offer MUDRA loans with varying interest rates and terms. SBI (State Bank of India) offers competitive rates and special benefits for salary account holders. IOB (Indian Overseas Bank), PNB (Punjab National Bank), Canara Bank, BOI (Bank of India), HDFC Bank, Indian Bank, BOB (Bank of Baroda), Central Bank of India, Union Bank of India, and ICICI Bank all participate in the PM MUDRA scheme. Each bank may have specific eligibility criteria, documentation requirements, and processing times.

Note: Interest rates and eligibility criteria may vary by bank and are subject to change. Please contact your preferred bank for the most current rates and terms. This calculator provides estimates for planning purposes only. Actual loan terms and conditions are subject to bank approval and may differ based on individual credit profiles and business requirements.