MUDRA Loan Interest Rate Calculator: Complete Guide for Micro Enterprises in India
The MUDRA Loan Interest Rate Calculator is an essential financial tool for micro entrepreneurs and small business owners across India who are planning to avail MUDRA (Micro Units Development and Refinance Agency) loans. Whether you're applying for a MUDRA loan from SBI, PNB, Union Bank of India, Canara Bank, BOI, IOB, HDFC, IDBI, or BOB, this calculator helps you understand your interest rates, monthly EMI, total interest costs, and loan eligibility before making a financing decision.
💼 What is a MUDRA Loan?
MUDRA (Micro Units Development and Refinance Agency) is a government initiative launched to provide financial support to micro enterprises in India. MUDRA loans are designed to help small businesses, entrepreneurs, and micro-enterprises access credit facilities. The PM MUDRA loan interest rate calculator helps you understand:
- Interest rates offered by different banks (SBI, PNB, Union Bank of India, Canara Bank, BOI, IOB, HDFC, IDBI, BOB)
- Monthly EMI (Equated Monthly Installment) based on loan amount, interest rate, and tenure
- Total interest payable over the loan period
- Total repayment amount including principal and interest
- Loan eligibility based on your income using SBI MUDRA loan interest rate calculator based on salary
- Complete amortization schedule showing monthly payment breakdown
- Comparison of rates from different banks for Shishu, Tarun, and Kishore MUDRA loans
🏦 MUDRA Loan Interest Rate Calculator by Bank
Different banks offer varying MUDRA loan interest rates and terms. Here's an overview of MUDRA loan interest rate calculators from major banks in India:
SBI MUDRA Loan Interest Rate Calculator
State Bank of India (SBI) offers competitive MUDRA loan rates starting from around 7% per annum. The SBI MUDRA loan interest rate calculator helps you calculate your monthly EMI and total interest. SBI also provides SBI MUDRA loan interest rate calculator based on salary to help entrepreneurs determine their loan eligibility based on income. The PM MUDRA loan interest rate calculator SBI is one of the most popular options for micro enterprises across India.
PNB Bank MUDRA Loan Interest Rate Calculator
Punjab National Bank (PNB) offers competitive MUDRA loan rates starting from around 7% per annum. The MUDRA loan interest rate calculator PNB bank helps you understand your loan costs and EMI calculations for micro enterprise financing. PNB provides quick loan processing and flexible terms.
Union Bank of India MUDRA Loan Interest Rate Calculator
Union Bank of India offers competitive MUDRA loan rates starting from around 7% per annum. The MUDRA loan interest rate calculator Union Bank of India helps entrepreneurs understand their loan repayment structure. Union Bank provides competitive rates and flexible terms for micro enterprise loans.
Canara Bank MUDRA Loan Interest Rate Calculator
Canara Bank provides MUDRA loans with competitive interest rates around 7% per annum. The MUDRA loan interest rate calculator Canara Bank helps entrepreneurs plan their micro enterprise financing needs. Canara Bank offers attractive loan terms for small businesses.
BOI MUDRA Loan Interest Rate Calculator
Bank of India (BOI) offers competitive MUDRA loan rates starting from around 7% per annum. The MUDRA loan interest rate calculator BOI helps you calculate your EMI and understand the total cost of borrowing. BOI provides comprehensive financing solutions for micro enterprises.
IOB MUDRA Loan Interest Rate Calculator
Indian Overseas Bank (IOB) provides attractive MUDRA loan interest rates starting from around 7% per annum. The IOB MUDRA loan interest rate calculator helps entrepreneurs calculate their monthly EMI and understand the total cost of borrowing. IOB offers flexible repayment options suitable for different business needs.
HDFC MUDRA Loan Interest Rate Calculator
HDFC Bank provides MUDRA loans with attractive interest rates around 7.5% per annum. The HDFC MUDRA loan interest rate calculator helps you understand your loan repayment structure. HDFC Bank offers flexible tenure options and competitive rates for small businesses.
IDBI MUDRA Loan Interest Rate Calculator
IDBI Bank offers competitive MUDRA loan rates starting from around 7% per annum. The IDBI MUDRA loan interest rate calculator helps entrepreneurs calculate their monthly EMI and total interest. IDBI Bank provides flexible repayment options for micro enterprises.
BOB MUDRA Loan Interest Rate Calculator
Bank of Baroda (BOB) provides competitive MUDRA loan rates around 7% per annum. The BOB MUDRA loan interest rate calculator helps you understand your loan costs and plan your financing. BOB offers flexible repayment options for entrepreneurs.
📋 Types of MUDRA Loans
Shishu MUDRA Loan
Shishu MUDRA loans are for micro enterprises requiring up to ₹50,000. The Shishu MUDRA loan interest rate calculator helps you calculate EMI and interest for small business startups. These loans are ideal for new entrepreneurs starting their micro business ventures.
Kishore MUDRA Loan
Kishore MUDRA loans range from ₹50,001 to ₹5,00,000 for growing businesses. These loans help established micro enterprises expand their operations and increase their business capacity.
Tarun MUDRA Loan
Tarun MUDRA loans range from ₹5,00,001 to ₹10,00,000 for established businesses. The Tarun MUDRA loan interest rate calculator helps you calculate EMI and interest for larger micro enterprise financing needs. These loans support businesses ready for significant expansion.
🧮 How MUDRA Loan Interest Rate and EMI is Calculated
The MUDRA loan interest rate EMI calculator uses the standard EMI formula to calculate your monthly payment:
EMI = (P × r × (1 + r)^n) / ((1 + r)^n - 1)
Where:
P = Loan Amount (Principal)
r = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
n = Loan Tenure in Months (Years × 12)
Key Inputs:
- Loan Amount: The MUDRA loan amount you wish to borrow (up to ₹10,00,000)
- Interest Rate: MUDRA loan interest rate (typically 6.5% - 8.5%)
- Loan Tenure: Repayment period in years (usually 1-5 years)
- Bank Selection: Choose from SBI, PNB, Union Bank of India, Canara Bank, BOI, IOB, HDFC, IDBI, or BOB
- MUDRA Type: Select Shishu, Kishore, or Tarun based on loan amount
- Monthly Salary: For salary-based eligibility calculation
Example Calculation:
- • Loan Amount: ₹5,00,000 (Tarun MUDRA)
- • Interest Rate: 7% per annum
- • Loan Tenure: 5 years
- • Monthly Rate: 7 ÷ 12 ÷ 100 = 0.005833
- • Loan Tenure: 5 × 12 = 60 months
- • EMI ≈ ₹9,900 per month
💰 MUDRA Loan Interest Rate Calculator Based on Salary
Many banks offer MUDRA loan interest rate calculator based on salary to help entrepreneurs determine their loan eligibility. Banks typically allow EMI up to 40% of your monthly income. Our calculator helps you:
- Calculate maximum loan amount based on your salary
- Understand your loan eligibility before applying
- Factor in existing EMIs to determine available loan capacity
- Plan your business financing within your budget
- Make informed decisions about loan amount and tenure
For example, if your monthly income is ₹50,000 and you have no existing EMIs, banks typically allow EMI up to ₹20,000 (40% of salary). Using the SBI MUDRA loan interest rate calculator based on salary, you can determine the maximum loan amount you're eligible for from SBI or other banks.
🏛️ PM MUDRA Loan Interest Rate Calculator
The PM MUDRA loan interest rate calculator refers to the Prime Minister's MUDRA Yojana, a government scheme launched to provide financial support to micro enterprises. The PM MUDRA loan interest rate calculator helps entrepreneurs:
- Calculate interest rates and EMI for loans under the MUDRA scheme
- Understand loan eligibility and repayment structure
- Compare rates from different participating banks (SBI, PNB, Union Bank, Canara Bank, BOI, IOB, HDFC, IDBI, BOB)
- Plan business financing under the government scheme
- Make informed decisions about MUDRA loan applications
The PM MUDRA loan interest rate calculator is available for all three categories of MUDRA loans: Shishu (up to ₹50,000), Kishore (₹50,001 to ₹5,00,000), and Tarun (₹5,00,001 to ₹10,00,000). Use the PM MUDRA loan interest rate calculator SBI or other banks to understand your monthly repayment obligations for each category.
📊 Understanding Your Results
EMI (Equated Monthly Installment)
This is your fixed monthly payment that includes both principal and interest. The EMI remains constant throughout the loan tenure, making it easier to plan your monthly budget for MUDRA loan repayment.
Total Interest Payable
This shows the total interest you'll pay over the entire loan period. MUDRA loans typically have competitive interest rates compared to other loan types, making them affordable for micro enterprises.
Total Payment
This is the sum of your loan principal and total interest. It represents the complete amount you'll pay back to the lender over the loan tenure.
Amortization Schedule
The schedule shows each monthly payment breakdown, displaying how much goes toward principal vs. interest, and your remaining balance after each payment. This helps you understand how your loan balance decreases over time.
💡 Benefits of MUDRA Loans
- Competitive interest rates (typically 6.5% - 8.5%)
- Flexible repayment tenure (usually 1-5 years)
- No collateral required for loans up to ₹10,00,000
- Quick loan processing and disbursement
- Government-backed scheme providing financial security
- Support for micro enterprises and small businesses
- Available from multiple banks across India
- Helps in business expansion and growth
📝 How to Use the MUDRA Loan Interest Rate Calculator
- Select your preferred bank from the dropdown (SBI, PNB, Union Bank of India, Canara Bank, BOI, IOB, HDFC, IDBI, or BOB)
- Choose your MUDRA loan type (Shishu, Kishore, or Tarun) or enter a custom amount
- Enter your loan amount, interest rate, and tenure
- Optionally enable salary-based calculation to check your loan eligibility
- Enter your monthly salary and existing EMIs if using salary-based calculation
- Review the calculated EMI, total interest, and total payment
- View the amortization schedule to understand your repayment plan
- Compare rates from different banks to find the best option
🎯 Conclusion
The MUDRA Loan Interest Rate Calculator is an invaluable tool for micro entrepreneurs and small business owners in India. Whether you're applying for a Shishu, Kishore, or Tarun MUDRA loan from SBI, PNB, Union Bank of India, Canara Bank, BOI, IOB, HDFC, IDBI, or BOB, this calculator helps you understand your interest rates, monthly EMI, total costs, and loan eligibility. Use the PM MUDRA loan interest rate calculator to make informed financial decisions and plan your micro enterprise financing effectively. With competitive interest rates and flexible repayment options, MUDRA loans provide excellent support for small businesses looking to grow and expand their operations.