Mudra Loan Apply Online

 The Mudra loan is provided by lenders to help non-corporate and non-farm sector income generating micro enterprises that need credit below Rs. 10 lakhs.  

The factors that affect the interest rate of MUDRA loan are the income of borrower, nature of business, repayment tenure, creditworthiness and required loan amount.  

The affordable interest rate of MUDRA loan is @7.30% onwards per annum with the repayment period up to 60 months. 

It is divided into three categories: - 

  • Shishu Loans up to Rs.50,000 
  • Kishor Loans up to Rs.5,00,000 
  • Tarun Loans up to Rs.10,00,000 

Interest rates & Processing fees of various banks  

Bank name  

Interest rates  

Processing fee 

Bank of India 

8% 

1% 

Canara Bank  

10% 

1% 

Central Bank of India 

8% 

1% 

Bank of Baroda  

8% 

1% 

Bank of Maharashtra 

10% 

1% 

Indian Bank  

8% 

1% 

Karnataka Bank Ltd.  

10% 

1% 

Punjab & Sind bank  

10% 

1% 

Punjab National Bank  

8% 

1% 

UCO Bank 

10% 

1% 

State Bank of India 

8% 

1% 

Union Bank of India 

8% 

1% 

United Bank of India 

8% 

1% 

Indian Overseas Bank  

10% 

1% 

Features of MUDRA loan 

  • Collateral-free loan 

Interest Rate: As per the individual’s profile & business requirements 

Loan Amount: Up to Rs. 10 lakhs 

  • Repayment Tenure: Up to 5 years 

Processing Fee: Nil 

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