PM mudra loan EMI calculator : Plan your EMI payments

In today’s world, access to funding is often the biggest challenge for small business owners and those starting new ventures. To address this problem, the Government of India launched the Pradhan Mantri Mudra Yojana (PMMY). Under this scheme, loans of up to ₹20 lakh can be obtained without any collateral.

However, before taking out a loan, it’s crucial to understand your monthly EMI (Equated Monthly Installment). The PM Mudra loan EMI calculator has been created for this very purpose. This tool helps you easily understand your monthly installment based on the loan amount, interest rate, and loan tenure. Using this calculator, you can not only plan your budget more effectively but also build a good credit score by making timely payments.

PM Mudra Yojana Introduction :-

The Pradhan Mantri Mudra Yojana (PMMY) was launched in April 2015. Its main objective is to provide easy access to credit for small and micro-enterprises. This scheme is for non-corporate, non-agricultural small businesses, such as shops, service providers, manufacturing units, or non-farming activities related to agriculture (such as poultry, dairy farming, etc.).

Types of PM Mudra Loan Scheme:-

To simplify the scheme, it has been divided into categories:

1.) Shishu Loan (Up to ₹50,000) – This loan is typically given for starting small businesses, e.g., starting a small shop, setting up a street vendor stall, or for home-based businesses.

2.) Kishore Loan (₹50,001 to ₹5 lakh) – This is perfect for those who want to expand their existing business, e.g., for purchasing machinery or increasing inventory in their shops.

3.) Tarun Loan (₹5 lakh to ₹10 lakh) – This loan is for strengthening an established business, e.g., if your shop is currently in a small room and you want to move it to a larger space to expand your business.

4.) Tarun Plus (₹10 lakh to ₹20 lakh) – This loan category is mostly availed by larger entrepreneurs to open new branches of their established businesses.

[Note: The benefits of the PM Mudra Loan Yojana depend on your business structure.]

Mudra Loan Basic Eligibility :-

• The loan recipient must be an Indian citizen.

• This scheme is designed for micro or small businesses, so your business should fall into this category.

• The beneficiary must be at least 18 years of age.

• You must have a good credit score.

• In some cases, proof of specific skills or experience may be required, but this depends on the lender.

• In this scheme, women and SC/ST candidates are given priority.

[Note : Mudra loans can be obtained from any bank or financial institution.]

What is PM mudra loan EMI calculator :-

This is a tool that allows you to calculate the monthly EMI for a Mudra loan. You don’t need to visit a bank; you can easily perform this calculation from the comfort of your home.

PM mudra loan EMI calculator inputs :-

• Loan Type – Select the category of loan you wish to apply for.

• Loan Amount – Enter the loan amount you wish to borrow.

• Tenure – Although a 5-year tenure is set by default, a slider is provided to increase the tenure.

• Interest Rate – You can increase or decrease the interest rate using the slider.

PM mudra loan EMI calculator output :-

• Monthly EMI – With this option, you can calculate the estimated monthly EMI payable after taking out the loan.

• Total Interest – This provides you with information about the total interest rate.

• Total Amount – Here you can see the total payable amount based on the loan tenure.

• Yearly Table – Here you can see a yearly table showing the total amount you have paid.

[Example – If the interest rate is 10% and the tenure is 5 years, the monthly EMI may vary. Using the tool, you can see that choosing a longer tenure reduces the EMI, but the total interest paid increases. This makes budget planning easier.]

Main benefits of PM Mudra loan scheme:-

• No collateral required – Under this scheme, you don’t need to pledge any collateral such as a house, land, or any other property, yet you can still get a good loan.

• No processing fees – There are no processing fees in the PM Mudra Yojana.

• Business-friendly loan amount – This scheme provides loans ranging from a minimum of ₹50,000 to ₹20 lakhs, which is sufficient to expand your business.

• Low interest rates – Taking a loan through this scheme is cheaper than a regular bank loan, and the processing fees are also lower.

• Benefits for women and weaker sections – Women and weaker sections are given higher priority in this scheme, allowing them to receive larger loan amounts.

• Government guarantee – The loan is guaranteed by the government, so banks easily provide loans to people.

• Promotion of small businesses – This scheme helps small businesses grow.

• Easy and fast loan application process – Loans are disbursed faster under this scheme compared to banks, NBFCs, or microfinance institutions.

• Easy utilization of loan amount – The amount received through the Mudra loan can be used in any business sector to expand it.

Some limitations of the PM Mudra Yojana :-

• The maximum loan limit is set at only ₹20 lakh, which is not sufficient for any large business.

• Even under the Mudra Yojana, banks approve loans only after reviewing your credit score and business plan.

• The scheme is the same, but the interest rate varies from bank to bank.

• Document verification and bank procedures take time.

• This scheme is not beneficial for those starting large companies.

Main benefits of PM mudra loan EMI calculator :-

• EMI Planning – You can plan your budget-friendly EMIs from the comfort of your home.

• Time-Saving – You can get EMI information in just a few seconds.

• Estimated Calculation – It provides estimated calculations based on the information you provide.

• 24/7 Free Service Available – The best part about this tool is that it can be used anytime.

[This scheme is helping millions of people become self-reliant.]

conclusion :-

The Pradhan Mantri Mudra Yojana is a great support for small business owners. Using the PM Mudra loan EMI calculator, you can find out your monthly installments in advance and strengthen your financial planning. If you want to start a new business or expand your existing one, take advantage of this scheme. With proper planning, you can easily repay the loan and move forward. For more information, you can visit your nearest bank or the official website http://mudra.org.in .

[ Disclaimer: This article is for informational purposes only. Interest rates, tenure, and other terms and conditions may vary depending on the bank or lender. For accurate information, always contact the official bank branch or visit mudra.org.in. This is not financial advice. Assess your financial situation carefully before taking out a loan. ]

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