Mudra Loan
Obtain assistance in the form of funding to begin, run, or grow a small business through the Pradhan Mantri Mudra Yojana (PMMY). In most situations, a Mudra Loan will ensure that the business owner has access to finance for business-related expenses without having to provide the standard collateral.
● No collateral required
● For micro and small companies
● Based on the type of loan required for a business
Instant Mudra Loan
Collect Money for Your Business
Are you seeking financing for launching a small business, buying equipment, sustaining inventory, or covering working capital needs? A Mudra Loan will grant you access to finance for your business based on your profile and needs.
Mudra Loans are financial instruments offered through the Pradhan Mantri Mudra Yojana for micro and small enterprises.
Core Characteristics
● No collateral financing: Eligible candidates can obtain the funding without providing any conventional collateral, subject to the lender’s terms.
● Funding intended for businesses: The money can be put to use in eligible income-generating activities.
● Loans come in various categories: The three loan categories, Shishu, Kishor, and Tarun, cater to differing funding needs.
● Suitable for small businesses: Ideal for eligible entrepreneurs, traders, service providers, or micro enterprises.
● Based on lender’s terms: The loan terms vary according to the financial institution or lender.
Quick Eligibility Glance
The eligibility requirements from lenders can vary. Generally, you should conform to the PMMY and lender’s criteria:
● Suitable and eligible business activity
● A well-established business or a feasible business plan
● Required identity, address, and business documents
● Good repayment and account maintenance history
Essential Documents You Will Need
● PAN card
● Aadhaar or address proof
● Business documentation and business plan
● Bank statements
● Photographs (if needed)
How Does the Process Work?
1. Check Your Eligibility: Provide your details and receive eligibility information.
2. Review Loan Options: Compare available lender options based on your business profile and funding requirement.
3. Submit Your Application: Complete the application and provide the required documents.
4. Business Verification: The lender reviews your business details, documents and repayment profile.
5. Get Sanctioned: If approved, the lender sanctions the loan and proceeds with disbursement as per its terms.
Why FynnEdge?
You could approach a lender directly. So, why use FynnEdge for your Mudra Loan?
01 — Multiple Lender Options
Provide your details once and explore suitable lending options instead of approaching multiple lenders separately.
02 — Easy Eligibility Guidance
Understand the basic eligibility requirements and documentation needed before submitting your application.
03 — Simple Online Process
Check your options, submit your details and begin your loan journey online.
04 — Free EMI & Credit Tools
Use financial calculators and credit-related tools to understand your borrowing position before applying.
05 — Guidance Throughout the Process
Get assistance in understanding loan options, documentation and lender requirements.
06 — No Service Charges
Comparing and applying through FynnEdge is free. Any applicable lender charges are communicated by the respective lender.
Key features
- Collateral-free
- Government-backed scheme
- Tiered by business stage (Shishu/Kishor/Tarun)
Eligibility at a glance
A general guide — the exact criteria vary by lender and are checked precisely when you apply.
- — Non-farm income-generating micro/small enterprise
- — Business plan or existing business proof
- — No default with any bank/NBFC
Documents you'll need
How it works
- 1 Check eligibility
- 2 Compare lenders
- 3 Apply online
- 4 Business verification
- 5 Get sanctioned
Mudra Loan EMI calculator
Estimate your monthly instalment and see the full year-by-year principal and interest breakdown.
Maximum loan amount: ₹10,00,000
Lenders' published rates for Mudra Loan: 19.00%–21.00% p.a.. Government scheme (Shishu/Kishor/Tarun) — amount capped by category.
Maximum tenure: 5 years (60 months)
Monthly EMI
₹10,997
Total interest
₹95,885
Total payment
₹3,95,885
Indicative only — your actual EMI depends on the lender's exact rate and terms at sanction.
Principal vs. interest
- Principal 75.8%
- Interest 24.2%
Principal & interest paid per year
Time on the x-axis, amount repaid on the y-axis — early on leans toward interest, later on toward principal.
Full breakdown, starting this month
Assumes your first EMI falls this month — click a period to see every month within it.
Nov 2026 – Oct 2027 Principal paid₹81,847 Interest paid₹50,115 Total paid₹1,31,962
| Month | Principal paid | Interest paid | Total paid | Balance remaining |
|---|---|---|---|---|
| Nov 2026 | ₹6,247 | ₹4,750 | ₹10,997 | ₹2,93,753 |
| Dec 2026 | ₹6,346 | ₹4,651 | ₹10,997 | ₹2,87,407 |
| Jan 2027 | ₹6,446 | ₹4,551 | ₹10,997 | ₹2,80,961 |
| Feb 2027 | ₹6,548 | ₹4,449 | ₹10,997 | ₹2,74,413 |
| Mar 2027 | ₹6,652 | ₹4,345 | ₹10,997 | ₹2,67,761 |
| Apr 2027 | ₹6,757 | ₹4,240 | ₹10,997 | ₹2,61,004 |
| May 2027 | ₹6,864 | ₹4,133 | ₹10,997 | ₹2,54,140 |
| Jun 2027 | ₹6,973 | ₹4,024 | ₹10,997 | ₹2,47,167 |
| Jul 2027 | ₹7,083 | ₹3,913 | ₹10,997 | ₹2,40,083 |
| Aug 2027 | ₹7,195 | ₹3,801 | ₹10,997 | ₹2,32,888 |
| Sep 2027 | ₹7,309 | ₹3,687 | ₹10,997 | ₹2,25,578 |
| Oct 2027 | ₹7,425 | ₹3,572 | ₹10,997 | ₹2,18,153 |
Nov 2027 – Oct 2028 Principal paid₹98,826 Interest paid₹33,136 Total paid₹1,31,962
| Month | Principal paid | Interest paid | Total paid | Balance remaining |
|---|---|---|---|---|
| Nov 2027 | ₹7,543 | ₹3,454 | ₹10,997 | ₹2,10,611 |
| Dec 2027 | ₹7,662 | ₹3,335 | ₹10,997 | ₹2,02,948 |
| Jan 2028 | ₹7,783 | ₹3,213 | ₹10,997 | ₹1,95,165 |
| Feb 2028 | ₹7,907 | ₹3,090 | ₹10,997 | ₹1,87,258 |
| Mar 2028 | ₹8,032 | ₹2,965 | ₹10,997 | ₹1,79,226 |
| Apr 2028 | ₹8,159 | ₹2,838 | ₹10,997 | ₹1,71,067 |
| May 2028 | ₹8,288 | ₹2,709 | ₹10,997 | ₹1,62,779 |
| Jun 2028 | ₹8,419 | ₹2,577 | ₹10,997 | ₹1,54,360 |
| Jul 2028 | ₹8,553 | ₹2,444 | ₹10,997 | ₹1,45,807 |
| Aug 2028 | ₹8,688 | ₹2,309 | ₹10,997 | ₹1,37,119 |
| Sep 2028 | ₹8,826 | ₹2,171 | ₹10,997 | ₹1,28,293 |
| Oct 2028 | ₹8,966 | ₹2,031 | ₹10,997 | ₹1,19,327 |
Nov 2028 – Oct 2029 Principal paid₹1,19,327 Interest paid₹12,634 Total paid₹1,31,962
| Month | Principal paid | Interest paid | Total paid | Balance remaining |
|---|---|---|---|---|
| Nov 2028 | ₹9,107 | ₹1,889 | ₹10,997 | ₹1,10,220 |
| Dec 2028 | ₹9,252 | ₹1,745 | ₹10,997 | ₹1,00,968 |
| Jan 2029 | ₹9,398 | ₹1,599 | ₹10,997 | ₹91,570 |
| Feb 2029 | ₹9,547 | ₹1,450 | ₹10,997 | ₹82,023 |
| Mar 2029 | ₹9,698 | ₹1,299 | ₹10,997 | ₹72,325 |
| Apr 2029 | ₹9,852 | ₹1,145 | ₹10,997 | ₹62,473 |
| May 2029 | ₹10,008 | ₹989 | ₹10,997 | ₹52,466 |
| Jun 2029 | ₹10,166 | ₹831 | ₹10,997 | ₹42,300 |
| Jul 2029 | ₹10,327 | ₹670 | ₹10,997 | ₹31,972 |
| Aug 2029 | ₹10,491 | ₹506 | ₹10,997 | ₹21,482 |
| Sep 2029 | ₹10,657 | ₹340 | ₹10,997 | ₹10,825 |
| Oct 2029 | ₹10,825 | ₹171 | ₹10,997 | ₹0 |
Lenders offering this product
Compare lenders side by side
Tick up to 4 lenders to compare them head to head, or apply with any lender directly.
- Lenders compared
- 4
- Rates from
- 19.00% p.a.
- Loan up to
- ₹20 Lakh
- Tenure up to
- 7 yrs
— pick at least one more to compare. — showing only your picks.
| Lender | Interest rate | Loan amount | Tenure | Processing fee | Eligibility | Apply |
|---|---|---|---|---|---|---|
|
HDFC Bank
Bank
|
Interest rate 19.00% – 21.00% p.a. Rate verified 13 Oct 2026 · lender's rates |
Loan amount ₹10,000 – ₹10 Lakh |
Tenure 1–5 yrs |
Processing fee ₹0 Fee detailsPMMY Shishu up to ₹50,000 / Kishor ₹50,000-₹5 lakh / Tarun ₹5-10 lakh; page lists 19%-21% fixed; non-farm enterprises |
Eligibility
|
Apply Now |
|
Axis Bank
Bank
Longest tenure
|
Interest rate Check current rates Rate confirmed by the lender when you apply |
Loan amount ₹10,000 – ₹10 Lakh |
Tenure 1–7 yrs |
Processing fee ₹0–₹5,000 + GST Fee detailsPMMY Shishu up to ₹50,000 / Kishore ₹50,001-₹5 lakh / Tarun ₹5,00,001-₹10 lakh; collateral-free fund-based facility; rate as per scheme |
Eligibility
|
Apply Now |
Canara Bank
Bank
Highest amount
Longest tenure
|
Interest rate Check current rates Rate confirmed by the lender when you apply |
Loan amount ₹10,000 – ₹20 Lakh |
Tenure 1–7 yrs |
Processing fee ₹500–₹5,000 + GST Fee detailsShishu & Kishore: nil; Tarun: 0.25% per lakh (min ₹500); margin nil ≤₹25k, 15–25% above; term loan 5–7 yrs; ROI per MSME RLLR card; Tarun Plus to ₹20L |
Eligibility
|
Apply Now |
|
ICICI Bank
Bank
Highest amount
Longest tenure
|
Interest rate Check current rates Rate confirmed by the lender when you apply |
Loan amount ₹10,000 – ₹20 Lakh |
Tenure 1–7 yrs |
Processing fee ₹0–₹10,000 + GST Fee detailsPMMY Shishu (DLOD up to ₹50k), Kishor (₹50k-₹5 lakh), Tarun (₹5-10 lakh), Tarun Plus (up to ₹20 lakh); collateral-free OD/DLOD; rate as per scheme guidelines |
Eligibility
|
Apply Now |
Not sure which lender fits? Check your eligibility with all 4 lenders with a single application.
Check eligibilityRates are each lender's own published figures, checked against the lender's website on the date shown. The rate, amount and approval you are offered depend on the lender's assessment of your profile — FynnEdge does not guarantee approval, disbursal or any particular rate.
Explore Mudra Loan by amount, type, need & location
By Amount
By Type
By Need
Why FynnEdge?
You could go directly to a bank. But why apply for a Mudra Loan through us?
One profile, many lenders
Share your details once — we match you against multiple lenders' criteria instead of you applying to each one separately.
Clear, upfront eligibility
See which lenders you're likely eligible for, with plain-language reasons, before you apply.
A fully online journey
Check eligibility, compare lenders and apply — all online, without a branch visit.
Free EMI & credit tools
Plan your EMI and check your credit score for free, before you commit to anything.
Guidance, not just a listing
We help you understand your options and why a lender is or isn't a fit — not just hand you a list.
No service charges
Comparing and applying through FynnEdge is free. Any lender fees are disclosed upfront by the lender.
What our customers say
-
“I contacted Fynnedge for help regarding the different types of personal loans available. The process went smoothly but it took quite long for the approval. Overall, it was a good experience.””
Kavita Iyer
Hyderabad
-
“I collaborated with Fynnedge to seek a personal loan for a specific expenditure. The process was straightforward, and the staff explained how loans functioned. The only issue was the length of the whole application process.””
Sandeep Malhotra
Chandigarh
-
“I have had a very happy experience with the Flexi Hybrid Term Loan. I found the process quite easy, although I did have to go through a lot of documentation as well as learn about all the terms and conditions of the loan first." ”
Rajesh Gupta
kanpur
Frequently asked questions
What is a Mudra Loan?
A Mudra Loan is a business loan available under the Pradhan Mantri Mudra Yojana (PMMY) to support eligible micro and small businesses. The funds can be used for various permitted business and income-generating activities.
How much loan can I get under Mudra Loan?
Under the standard Shishu, Kishor and Tarun categories, eligible borrowers can access loans ranging from up to ₹50,000 to up to ₹10 lakh. The sanctioned amount depends on the applicant's business requirements, eligibility and the lender's assessment.
What are the different types of Mudra Loans?
Mudra Loans are generally divided into three categories: Shishu for loans up to ₹50,000, Kishor for loans above ₹50,000 and up to ₹5 lakh, and Tarun for loans above ₹5 lakh and up to ₹10 lakh.
Can I get a Mudra Loan without collateral?
Mudra Loans are generally designed to provide financing without requiring traditional collateral, subject to the applicable scheme and lender terms. Applicants may still need to provide the required business and financial documents.
Who is eligible for a Mudra Loan ?
Eligible individuals and businesses engaged in permitted non-farm income-generating activities may apply. The final eligibility depends on the applicable PMMY guidelines and the lender's requirements.
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