Mudra Loan EMI Calculator
Mudra Loan EMI Calculator:
  • Loan Amount:

  • Rate of Interest (%):

  • Loan Terms (monthly):

  • Equated Monthly Installment (EMI) will be

  • Benefits
  • Features
  • Eligibility
  • Documentation
  • Most Important Terms and Conditions (MITC)

Mudra Loan : Features

There are three types of Mudra loans depending on the loan amount:

  • Shishu: Loans sanctioned under the PMMY scheme up to Rs. 50,000
  • Kishore: Loans sanctioned under the PMMY scheme from Rs. 50,001 up to Rs.5 Lakhs
  • Tarun: Loans sanctioned under the PMMY scheme Rs. 5,00,001 up to Rs. 10 Lakhs
  • While there is no minimum loan amount under the Mudra loan scheme, the maximum loan amount that can be taken under the PMMY is Rs. 10 Lakhs.
  • Borrowers don’t need to pay processing charges or offer collateral if they avail a Mudra loan.
  • As per the PMMY scheme, the Mudra loan can not only be offered to enterprises in the non-farm sector but also can include those engaged in allied agricultural activities, such as horticulture and fisheries.
  • The interest rate on Mudra loans is determined by the marginal cost of lending rate or MCLR, which is calculated according to the RBI guidelines.

Mudra Loan : Eligibility

  • All non-farm enterprises
  • Under micro enterprises and small enterprises segment
  • Engaged in income generating activities
  • Engaged in manufacturing, trading and services
  • Whose credit needs are up to Rs. 10 lakhs
  • Now allied agriculture activities have also been included under PMMY scheme w.e.f. 01/04/2016.

Mudra Loan : Documentation

  • Duly filled Mudra Loan application form.
  • Identity proof documents like Aadhaar/PAN/Driving License/Passport/Voter ID/ Government-issued photo ID of all applicants (in case of joint loans).
  • Residence proof documents like latest utility bill/ Aadhaar/Voter ID/Passports/bank account statement of all applicants (in case of joint loans).
  • Business ID and Address proof documents (Licenses/Registration Certificates/Deed Copy, etc.).
  • Latest photographs of the applicant/s.
  • Proof of minority, if any.
  • Proof of loan requirement, i.e., equipment quotations, vendor details, etc.

Mudra Loan : Most Important Terms and Conditions (MITC)

Maximum Limit

Rs. 10 lakhs

Repayment Period

Term / Demand - Maximum up to 84 months with suitable moratorium subject to annual review

Working Capital – For 12 months subject to annual review


As per Banks Guidelines

Bureau Score validation

Minimum bureau score cut off as per Bank’s guidelines

Processing Fee

Nil for all category


Hypothecation of assets created by Banks finance

No collateral

Insurance / Guarantee

Mudra loans are covered under CGTMSE coverage.

Pre-closure charges


Banking Mantra

Add this website to home screen

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.

The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.

Proceed to the website

Thank you for visiting

We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, Privacy Policy and Terms & Conditions please click here. By continuing to browse this website, you consent to our use of cookies and agree to the Privacy Policy and Terms & Conditions.