Planning to take a Mudra loan for your business? Use this free Mudra Loan EMI Calculator to find your exact monthly EMI for Shishu, Kishore, Tarun and Tarun Plus loans. Adjust the loan amount, interest rate and tenure with the sliders and see live results — including a year-wise repayment schedule.

How This Mudra Loan EMI Calculator Works

The calculator uses the standard reducing-balance EMI formula that banks use: EMI = P × r × (1+r)^n / ((1+r)^n − 1, where P is the loan amount, r is the monthly interest rate and n is the number of months. Just move the sliders and the calculator instantly shows your monthly EMI, total interest payable and total amount payable.

Mudra Loan Interest Rates in 2026

There is no single fixed interest rate for Mudra loans — each bank or NBFC sets its own rate based on RBI guidelines and your profile. In 2026, public sector banks typically charge between 8.5% and 12.15% per year, private banks between 9.99% and 17.5%, and NBFCs or microfinance institutions between 12% and 24%. Women entrepreneurs may get a concession of around 0.25% at some banks. Always confirm the exact rate with your lender before signing.

Which Mudra Category Applies to You?

PM Mudra Yojana has four categories. Shishu covers loans up to ₹50,000 for new entrepreneurs. Kishore covers ₹50,001 to ₹5,00,000 for growing businesses. Tarun covers ₹5,00,001 to ₹10,00,000 for established units. Tarun Plus covers ₹10,00,001 to ₹20,00,000 but is available only to borrowers who have successfully repaid a Tarun loan. The calculator above automatically detects your category as you move the amount slider.

Things to Remember

All Mudra loans are collateral-free and backed by the Credit Guarantee Fund for Micro Units (CGFMU), so banks do not ask for property or guarantors. There is no processing fee on Shishu loans at most banks. Repayment tenure can go up to 7 years. Never pay any agent or middleman fee — MUDRA uses no agents, and applications are free on jansamarth.in and udyamimitra.in or at bank branches.