Mudra Loan EMI Calculator

A MUDRA Loan EMI Calculator helps you estimate the monthly repayments for your loan. By entering basic details like the loan amount, interest rate, and repayment tenure, you can calculate the EMI amount. This allows you to plan your finances more effectively by providing a clear understanding of your exact EMI before you apply, making it an essential tool for successful budgeting. A good CIBIL score can also improve your chances of securing better loan terms.

To check the EMI you may be required to pay on your MUDRA Loan, use the above calculator by following these simple steps:

• Use the sliders to enter the loan amount, interest rate, and tenure

• The result will immediately reflect on the right-hand side 

• You can then proceed to check and download the amortisation schedule provided below

 

You can adjust the values as many times as you like to check the monthly instalment in various scenarios. The calculator is free to use and can be of great help when budgeting and creating an effective repayment plan.

You can use this formula to calculate the EMI on your MUDRA loan interest rate:

 

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

 

where,

 

P is the total loan amount or Principal loan amount: You must enter the expected loan amount as per your loan category, namely Kishore, Shishu, or Tarun

 

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

 

N is the loan repayment tenure (in months): MUDRA loans have a repayment tenure 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.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.