Mudra Loan EMI Calculator

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 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.