Embrace a new way of availing loan from the government

Minimal Documentation | Collateral Free Loan | Easy Repayment

Now meet your credit requirements easily with our mudra loans that come under the purview of Pradhan Mantri Mudra Yojna (PMMY). MUDRA, an abbreviation for Micro Units Development and Refinance Agency, is meant to support the growing activity in the non-farming and non-corporate sectors.


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Mudra Loan

 

EMI Calculator


The Mudra loan EMI calculator is a major portion of the Mudra loan program. If you want to take a mudra loan, it is recommended to use our Mudra loan EMI calculator and check your monthly 


installment amount to service the loan. To calculate the EMI, applicants must possess three basic loan details, i.e. the loan amount, interest rate, and repayment tenor.

Loan Amount is

10k

10L

No. of Month is

12M

84M

Rate of Interest (ROI) is

5

35

Monthly EMI

Total Interest

Payable Amount

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You can refer to the following formula to calculate the EMI on your Mudra loan interest rate:

EMI = [P x R x (1+R) ^ N]/[(1+R) ^ (N-1)]

In which,

P refers to the total loan value or Principal loan amount: Enter the expected loan amount as per your loan category, namely Kishore, Shishu, or Tarun

R means the rate of interest rate levied on the principal amount (monthly): The interest rate on depends on the issuing bank’s policies

N denotes the loan repayment tenor (in months): Mudra loans have a repayment tenor of up to 5 years (60 months)

Remember, the applicable rate of interest varies from one bank to another. It essentially depends on the profile of the business and its requirements.

 

EMI Calculator


The Mudra loan EMI calculator is a major portion of the Mudra loan program. If you want to take a mudra loan, it is recommended to use our Mudra loan EMI calculator and check your monthly 

emi-calculator
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How To Reduce EMIs On A Mudra Loan?

There are a few ways to reduce the professional loan EMI amount.

  • Opt for a smaller sanction
  • Choose a longer tenure
  • Negotiate for a lower interest rate
  • Prepay the professional loan at least once during the tenure.

Before trying any of these tactics, be sure to use a professional loan calculator and conduct a thorough cost-benefit analysis.

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