Mudra loan planning
Mudra Loan EMI Calculator.
Estimate your monthly EMI for a collateral-free Pradhan Mantri Mudra Yojana (PMMY) loan — Shishu, Kishor, or Tarun — for your small or micro business.
- Principal amount
- ₹5,00,000
- Total interest
- ₹80,824
- Total amount
- ₹5,80,824
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,50,375 | ₹43,233 | ₹3,49,624 |
| 2 | ₹1,66,123 | ₹27,485 | ₹1,83,501 |
| 3 | ₹1,83,501 | ₹10,090 | ₹0 |
Which Mudra category fits your loan amount?
Shishu covers loans up to ₹50,000, Kishor covers ₹50,001-₹5 lakh, and Tarun covers ₹5,00,001-₹10 lakh — with Tarun Plus extending to ₹20 lakh for businesses that have already repaid a Tarun loan. All categories are collateral-free, disbursed through banks, NBFCs, and MFIs under the PMMY scheme.
Frequently asked questions
What are the Mudra loan categories — Shishu, Kishor, and Tarun?
Under the Pradhan Mantri Mudra Yojana (PMMY), Shishu covers loans up to ₹50,000, Kishor covers ₹50,001 to ₹5 lakh, and Tarun covers ₹5,00,001 to ₹10 lakh. A newer Tarun Plus category extends up to ₹20 lakh for businesses that have already repaid a Tarun loan. All are collateral-free.
How is Mudra loan EMI calculated?
Mudra loan EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1). Rates generally run 8-12% depending on the lending bank, with repayment tenure typically 1-5 years, occasionally extended for larger business needs.
Is collateral required for a Mudra loan?
No — Mudra loans under all categories (Shishu, Kishor, Tarun) are collateral-free by design, since the scheme is meant to support small and micro businesses that often lack assets to pledge. Processing and foreclosure fees are typically nil or minimal.
Who is eligible for a Mudra loan?
Any non-corporate, non-farm small or micro enterprise — manufacturing, trading, or service businesses — is generally eligible, including proprietorships, partnerships, and small companies. Eligibility and exact terms vary by the lending bank, since Mudra loans are disbursed by banks, NBFCs, and MFIs under the PMMY framework, not directly by a single central lender.