Finance · Free tool
Mudra Loan Calculator
Mudra loans are collateral-free for micro-businesses. Shishu (≤ ₹50k), Kishor (₹50k–₹5L), Tarun (₹5L–₹10L), Tarun Plus (₹10L–₹20L). Rates vary 8-12% depending on bank.
₹5,00,000
10.0%
5 years
Category
Kishor
Monthly EMI
₹10,624
Total interest₹1,37,411
Total repayment₹6,37,411
FAQ
Are Mudra loans truly collateral-free?
Yes for Shishu and Kishor. Tarun (₹5L+) may need primary security (the asset funded by the loan). Personal guarantee from the borrower is standard. CGTMSE coverage backs the bank against default.
Can I use a Mudra loan for personal expenses?
No — strictly for business / income-generating activity. Bank verifies via business plan, GST/Udyam registration. Misuse can lead to recall and CIBIL hit.
What rate should I expect?
Public sector banks: 8.5-11%. Small finance banks / NBFCs: 11-15%. PSL refinance via MUDRA bank lets PSBs offer low rates, but underwriting is conservative.