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Pradhan Mantri Mudra Yojana (PMMY) — No collateral required. Loans from Rs.10,000 to Rs.10,00,000 for non-farm micro and small enterprises via scheduled banks, RRBs, and MFIs.
Results & Eligibility Assessment
✅
LIKELY ELIGIBLE
Your profile meets standard Mudra loan criteria.
Kishore
Loans from Rs.50,001 to Rs.5,00,000
Monthly EMI
₹6,453
for 36 months
Total Repayment
₹2,32,308
Principal + Interest
Total Interest
₹32,308
over 36 months
Effective Rate
10.00%
per annum (reducing)
📈
You save ₹0 in interest vs informal lenders at 24% p.a. on the same loan.
🌟 Scheme Assessment
✅Kishore category — Rs.2,00,000 loan
✅Monthly EMI: Rs.6,453 for Rs.2,00,000 at 10%
✅Total interest cost: Rs.32,308 over 36 months
📈Savings vs informal lender: Rs.0 at Mudra 10% vs informal 24%
You qualify for a Mudra
Kishore loan of
₹2,00,000. EMI of
₹6,453/month at 10% saves
₹0 in interest vs informal credit. Apply at your nearest scheduled bank or via
mudramitra.in with your business documents.
📄 Documents Required
👤 Aadhaar Card / PAN Card (identity proof)
🏠 Business Address Proof
📷 2 Recent Passport-size Photographs
🏭 Bank Statement (last 6 months)
📋 Business Plan / Quotation for Equipment (Kishore/Tarun)
Interest Cost Comparison: Mudra vs Informal Lenders
Last updated: July 2026. Verify eligibility and apply at mudramitra.in or any scheduled commercial bank.
Frequently Asked Questions
Who is eligible for Mudra loan in India? ▼
Any Indian citizen running a non-farm micro or small enterprise is eligible. This includes proprietorships, partnerships, and individuals in manufacturing, trading, services, food processing, textile, or transport sectors. You must be at least 18 years old. The loan cannot be used for agricultural or farming activities. All three categories — Shishu, Kishore, and Tarun — require no collateral.
What is the interest rate for Mudra loan? ▼
There is no fixed government-mandated rate. Interest rates typically range from 9% to 12% per annum depending on the bank, NBFC, your credit profile, and loan category. Shishu loans often attract slightly lower rates. It is advisable to compare rates across multiple lenders on mudramitra.in before finalising your application. This calculator uses 10% as a benchmark.
What documents are needed for Mudra loan? ▼
Commonly required documents include: Aadhaar card or PAN card, business address proof, 2 passport-size photographs, and 6-month bank statement. For Kishore and Tarun category loans, a business plan or equipment quotation is also typically required. Some lenders may additionally ask for GST registration certificate or trade licence. Specific requirements vary by bank.
What is the difference between Shishu, Kishore, and Tarun Mudra loans? ▼
Shishu: Up to Rs.50,000 — designed for startups and very early-stage businesses just getting off the ground.
Kishore: Rs.50,001 to Rs.5,00,000 — for established businesses that need capital for growth, expansion of operations, or additional inventory.
Tarun: Rs.5,00,001 to Rs.10,00,000 — for well-established businesses looking to scale up significantly. All three are collateral-free under PMMY.
How is Mudra loan EMI calculated? ▼
Mudra loan EMI uses the reducing-balance method: EMI = P x r x (1+r)^n / ((1+r)^n - 1). Here P is the principal, r is the monthly interest rate (annual rate divided by 1200), and n is the number of months. For a Rs.2,00,000 loan at 10% p.a. for 36 months, the EMI works out to approximately Rs.6,453 per month, and the total interest paid is around Rs.32,308.