Mudra Loan EMI Calculator
Mudra loans run from ₹50,000 to ₹20 lakh across four categories, and public sector banks typically price them between 8.5% and 12% per annum. The calculator opens at 8.5%, the reference starting rate for public sector lending under the scheme. There is no government-fixed Mudra rate and no interest subsidy, so change it to the rate you have actually been quoted.
Monthly EMI
₹10,258
₹5 Lakh at 8.50% for 5 years
Interest is 23% of the amount borrowed over this tenure.
Year-by-year repayment schedule
How each year splits between interest and principal. Early years are mostly interest, which is why prepaying early saves so much more than prepaying late.
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹83,815 | ₹39,285 | ₹4,16,185 |
| 2 | ₹91,223 | ₹31,876 | ₹3,24,962 |
| 3 | ₹99,286 | ₹23,813 | ₹2,25,676 |
| 4 | ₹1,08,062 | ₹15,037 | ₹1,17,614 |
| 5 | ₹1,17,614 | ₹5,485 | ₹0 |
This calculator returns arithmetic on the figures you enter. It is not an offer, does not check your eligibility, and cannot predict the rate a lender will sanction. Loans Got Easy is an authorised Direct Selling Agent - we do not sanction, approve or disburse loans.
Why there is no single Mudra rate to calculate with
The Pradhan Mantri Mudra Yojana is a refinance and credit-guarantee framework, not a lender. It provides refinance support to banks, NBFCs and microfinance institutions and guarantee cover through CGFMU, but it does not set the interest rate and it carries no interest subsidy for the borrower. Each lender prices the loan off its own benchmark and your profile, which is why the same application can be quoted differently at two branches. Public sector banks generally sit between 8.5% and 12% per annum; private banks and NBFCs commonly price from 10% upwards.
The amount you enter should match the category
Shishu covers up to ₹50,000, Kishore above ₹50,000 to ₹5 lakh, Tarun above ₹5 lakh to ₹10 lakh, and Tarun Plus above ₹10 lakh to ₹20 lakh for borrowers who have already repaid a Tarun loan cleanly. The category follows from the amount rather than being chosen, and it determines what the branch expects in the file - a Shishu application can sometimes run on a savings account, while Kishore and above almost always require a current account and filed returns.
Processing fees change the real cost
Many lenders waive processing charges on Shishu entirely. Above ₹1 lakh, published structures commonly work out at roughly ₹250 per lakh at rural and semi-urban branches and around ₹300 per lakh at urban and metro branches, varying by lender. On a short tenure that fee can matter more than a small difference in rate; over a longer tenure the rate usually dominates. The calculator returns interest only, so add the fee separately when you compare two offers.
What the calculator does not decide
This tool performs arithmetic on the numbers you enter. It does not check eligibility, does not reflect any offer a lender has made you, and cannot predict whether a Mudra application will be sanctioned. The credit guarantee under the scheme protects the lender against a portion of a default - it is not approval for the borrower. Loans Got Easy is a loan advisory and Direct Selling Agent and does not sanction, approve or disburse loans; the lending institution decides.
Rates sourced from partner lender published rate schedules, last verified August 2026. Figures produced by this calculator are indicative and depend entirely on the inputs you provide. The rate you are offered is set by the lender based on your credit profile, income, employer, loan amount and tenure.
Frequently Asked Questions
At 8.5% per annum over five years, a ₹5 lakh Mudra loan works out to roughly ₹10,258 a month. Change the rate in the calculator to whatever you have been quoted, because there is no government-fixed Mudra rate and public sector banks price the scheme anywhere between about 8.5% and 12%.
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Rates last verified August 2026. Loans Got Easy is a loan advisory and Direct Selling Agent. We do not sanction, approve or disburse loans - the lender does, based on its own credit assessment.