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SBI Mudra Loan


Interest Rates & Charges

SBI offers Mudra Loans with low processing fees and low-interest rates. No hidden fees and 100% transparency are at the core of the loan, making it a seamless borrowing experience.


Applicable Fees


Interest rate


SBI Mudra Loan interest rate comes with Competitive Pricing Linked to MCLR.


Processing charges


There is a small processing fee for loan processing, verification, and other administrative services. Our fee is NIL for SHISHU and KISHORE to MSE units, 0.5% for TARUN of the loan amount, along with the applicable taxes.


Margin Percentage


The margin percentage is NIL for loans up to Rs.50,000 but there is a 10% margin on loans starting from Rs.50,001 to Rs.10 Lakh.

SBI Mudra Loan

Types of SBI Mudra Loan Interest Rate

There are two kinds of SBI Mudra Loan interest rates: fixed and floating.

Fixed Interest Rate

Here, the rate of interest charged on the SBI Mudra Loan amount will remain constant throughout the loan repayment period. You know your SBI Mudra Loan EMI obligation at the start of the tenor, allowing you to plan your monthly budget accordingly.

SBI Mudra Loan
SBI Mudra Loan

Floating Interest Rate

Here, SBI Mudra Loan interest rates could change depending on changes to the Marginal Cost of Lending Rate (MCLR), which is the base rate set for banks by the RBI. With changes in MCLR, the interest rate on loans also gets revised. With a lower interest rate, the repayment amount also reduces. On the other hand, if the interest rates increase, your EMI obligation will also increase. A floating SBI Mudra Loan interest rate makes it difficult for you to ascertain your monthly financial obligation.

SBI Mudra Loan Interest Calculation Method

There are two methods to calculate interest: flat rate method and the reducing balance method.

In the flat interest rate method, the interest rate is based on the complete loan amount you pay during the repayment period. In case of reducing the balance method, the rate of interest on the SBI Mudra Loan will be considered and calculated on the basis of the outstanding loan amount.

Flat Interest Rate Calculation

EMI = (principal + total interest payable) / loan tenure in months i.e. total interest payable = P x r x n/100

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

Floating Interest Rate Calculation

EMI = [P x r x (1 + r) ^n] / [(1 + r) ^(n-1)]

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

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