How Does the PM Mudra Loan Calculator Help?
The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship scheme by the Government of India aimed at providing credit support to micro and small enterprises. Our PM Mudra Loan Calculator helps entrepreneurs instantly estimate their monthly EMIs and total interest payable. Knowing your repayment schedule in advance allows you to manage your business cash flows efficiently and choose the right loan category—Shishu, Kishore, or Tarun—based on your financial capacity.
Frequently Asked Questions (FAQs)
What are the 3 categories of Mudra Loans?
Mudra loans are divided into three categories based on the funding needs of the business:
1. Shishu: Loans up to ₹50,000 (Ideal for starting a new business).
2. Kishore: Loans from ₹50,001 to ₹5,00,000 (For buying equipment or expanding).
3. Tarun: Loans from ₹5,00,001 to ₹10,00,000 (For established businesses needing capital).
Do I need collateral to get a Mudra Loan?
No, one of the biggest benefits of the PM Mudra Yojana is that these are collateral-free loans. You do not need to pledge any property or assets to the bank to secure this loan.
What is the interest rate for a Mudra Loan?
There is no fixed or subsidized interest rate for Mudra loans. The interest rates are determined by the lending banks and NBFCs based on RBI guidelines and the applicant’s credit profile. It generally ranges between 8.5% and 12% per annum.