Mudra Loan Calculator
Calculate EMI on PMMY (Pradhan Mantri Mudra Yojana) loans up to ₹20 lakh. Covers all 4 categories — Shishu (₹50K), Kishore (₹5L), Tarun (₹10L), and Tarun Plus (₹20L). 2026 rates from public banks + NBFCs.
Details
Result
Monthly EMI
₹4,449
Category
Kishore
Total Repayment
₹2,66,933
Total Interest
₹66,933
Interest as % of Principal
33.5%
For estimation only. Not professional financial, tax, or legal advice. Consult a qualified advisor before making decisions. Full disclaimer.
Mudra Loan: Free money for small businesses (almost)
Mudra (Pradhan Mantri Mudra Yojana, launched 2015) is the government's loan scheme for non-corporate, non-agricultural micro-enterprises. No collateral needed below ₹10 lakh. The loan is given through public banks, private banks, NBFCs, MFIs, and regional rural banks. Interest rates depend on the lender — typically 9-14% in 2026.
The 4 Mudra categories
- Shishu — up to ₹50,000. For new or very small businesses. Typical rate 9-12%.
- Kishore — ₹50,001 to ₹5,00,000. For businesses ready to scale. Typical rate 11-14%.
- Tarun — ₹5,00,001 to ₹10,00,000. For established businesses needing growth capital. Typical rate 12-14%.
- Tarun Plus — ₹10,00,001 to ₹20,00,000. Added in 2024 budget. For established businesses. Typical rate 13-15%.
Who can apply
Indian citizens running (or about to start) any of these: manufacturing units, services businesses, food production, transport (auto, taxi), repair shops, beauty parlours, tailoring, kirana stores, vegetable vendors, food carts. Excluded: agricultural activities (covered by KCC), corporates, partnerships above a certain size.
Documents needed
- Identity proof (Aadhaar, PAN)
- Address proof (Aadhaar, voter ID, utility bill)
- Business proof (registration, GST certificate, shop establishment licence)
- Quotations for machinery / inventory if applying to buy
- Last 6 months bank statements
- For Tarun: business plan, projected income, ITR last 2 years
Where to apply
Apply at any public bank branch (SBI, BoB, PNB, Canara), private bank (HDFC, ICICI, Axis, Kotak — all empanelled), regional rural bank, or NBFC. Also via the Udyamimitra portalwhich routes your application to multiple lenders.
CGTMSE coverage (no collateral)
For loans up to ₹10 lakh, the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) covers default risk for the lender. This means the bank can give you the loan without collateral or third-party guarantees. The CGTMSE fee is paid by the lender, not you.
Tips
- Apply at the bank where your business already has a current account — faster approval.
- Have a clear, written business plan even for Shishu loans.
- Don't apply for the maximum unless you need it — lower amounts get approved faster.
- Keep CIBIL score above 650 for better rate negotiation.
- Compare rates across 2-3 banks before signing.