Mudra Loan Interest Rates in India 2023
Lenders charge very nominal interest rate on Mudra Loan. Interest rate is prescribed by the lender/ bank from time to time, which is usually linked to MCLR. The lender can decide the interest rate for the loan. Mudra or the RBI or the Government of India does not have any control the interest rate decided by the lender.
| Bank Name | Interest Rates |
|---|---|
| Ahmedabad Mercantile Cooperative Bank | 11.50% to 13% |
| Allahabad Bank | MCLR to MCLR+2.00% i.e. 8.25% to 10.25% (depending on activity of finance). 0.50% relaxation in rate of interest will be allowed to Women Beneficiary, subject to minimum of MCLR. |
| Andhra Bank | Shishu Category Interest Rate: MCLR i.e. 8.40% Kishore & Tarun Categories Interest Rate: MCLR + 1.80% p.a. + TP* i.e. 10.45% to 10.70% * TP of 0.25 % is applicable for TLs with repayment period (including gestation period) above 36 months and up to 60 months and 0.50% for TLs with repayment period (including gestation period) of above 60 months. |
| Andhra Pradesh Grameena Vikas Bank | N/A |
| Axis Bank | 12% to 24% |
| Bank Of Baroda | Up to Rs.50000/- Micro Enterprises: MCLR+SP Small Enterprises: (MCLR+SP)+0.50% Above Rs.50000/- to Rs.2.00 lakhs Micro Enterprises: (MCLR+SP)+0.50% Small Enterprises: (MCLR+SP)+0.70% Above Rs.2.00 lakhs to Rs.10.00 lakhs Micro Enterprises:(MCLR+SP)+0.70% Small Enterprises:(MCLR+SP)+0.85% One-year MCLR is 8.30% |
| Bank Of India | 9.30% to 10.30% |
| Bank Of Maharashtra | MSE Loans up to Rs.10.00 lakh : @MCLR+1.75%+BSS i.e. 10.65% Agricultural allied activity, food processing etc. up to Rs.10.00 lakh : @MCLR+2.00%+BSS (at Simple Interest) i.e. 10.90% (BSS is Business Strategy Spread which is at present: 0.25%) |
| Baroda Gujarat Gramin Bank |
|
| Baroda Rajasthan Kshetriya Gramin Bank | 11% to 11.50% |
| Baroda Up Gramin Bank | (i) Up to Rs. 3.00 Lakhs: 9.50% (ii)Above Rs. 3.00 Lakhs upto Rs. 10.00 Lakhs: 10.50% |
| Bassein Catholic Cooperative Bank Limited | N/A |
| Bihar Gramin Bank |
|
| Canara Bank | 13.65% |
| Catholic Syrian Bank Limited | N/A |
| Central Bank Of India | 12.70% |
| Chaitanya Godavari Grameena Bank | N/A |
| Citizen Credit Cooperative Bank Limited | 10.50% to 11.75% |
| City Union Bank Limited | Shishu - 12.00% Kishore - 12.25% Tarun - 12.50% |
| Corporation Bank | N/A |
| Dcb Bank Limited | N/A |
| Dena Bank | 13 % to 14% |
| Dena Gujarat Gramin Bank | 12% to 14% |
| Dombivli Nagari Sahakari Bank Limited | CASH CREDIT (Upto Rs. 1 lakh): Women: 9.70% and Others: 9.95% TERM LOAN (Above Rs. 1.00 Lakh to Rs. 10.00 Lakhs): Women: 9.70% and Others: 9.95% |
| Federal Bank | N/A |
| Hdfc Bank | 12.75% to 20% |
| Icici Bank Limited | 12% to 20% |
| Idbi Bank | 12.75% to 13.75% |
| Idfc First Bank | N/A |
| Indian Bank | 12.65% to 13.65% |
| Indian Overseas Bank | 9.45% to 14.70% |
| Indusind Bank | 12.99% to 18.25% |
| Jalgaon Janata Sahakari Bank Limited | N/A |
| Jammu And Kashmir Bank Limited | N/A |
| Kalupur Commercial Cooperative Bank | 10.50% to 14.50% |
| Karnataka Bank Limited | N/A |
| Karnataka Vikas Grameena Bank | 11.50% to 14.75% |
| Karur Vysya Bank | 13.9% to 16.40% |
| Kaveri Grameena Bank | N/A |
| Kerala Gramin Bank | 10.50% to 11.50% |
| Kotak Mahindra Bank Limited | 11.5% to 18% |
| Madhya Bihar Gramin Bank |
|
| Maharashtra Gramin Bank | N/A |
| Malwa Gramin Bank | N/A |
| Meghalaya Rural Bank | N/A |
| Narmada Jhabua Gramin Bank | 11.25% to 12.75% |
| Nutan Sahakari Bank Ltd | 11% to 13.50% |
| Oriental Bank Of Commerce | 11.20% to 12.95% |
| Pallavan Grama Bank | 12.65% to 13.65% |
| Pandyan Grama Bank | 9.45% to 14.70% |
| Pragathi Krishna Gramin Bank | MLR-0.25% i.e. 12.00% |
| Prathama Bank | (i) Upto Rs 50,000/-(MUDRA SHISHU): 11% (ii) Above Rs 50,000/- to Rs.10.00 lakhs (MUDRA Kishor & Tarun): 11.75% |
| Puduvai Bharathiar Grama Bank | N/A |
| Punjab And Sind Bank | MCLR + 1.75 % to MCLR + 2.25 % i.e. 10.15% to 10.65% |
| Punjab Gramin Bank | N/A |
| Punjab National Bank | MCLR to MCLR +2.25% i.e. 8.30% to 10.55% (subject to change, as per Govt /RBI guidelines, issued from time to time) |
| Rajasthan Marudhara Gramin Bank | 12% to 14.50% |
| Rajkot Nagrik Sahakari Bank Limited | N/A |
| Sarva Haryana Gramin Bank | 11% to 16.50% |
| Sarva Up Gramin Bank | N/A |
| Saurashtra Gramin Bank | 12.75% to 14.50% |
| South Indian Bank | 14.80% |
| State Bank Of India | 12.50% to 17.80% |
| Sutlej Kshetriya Gramin Bank | 10.50% to 16% |
| Syndicate Bank | Up to Rs. 1.00 lakhs (Working Capital & Term Loans): One year MCLR i.e. 8.45% Above Rs. 1.00 lakh to Rs. 10.00 lakhs: Up to and inclusive of One year: MCLR+1.00% i.e. 9.45% Above One year: MCLR+1.25% i.e. 9.70% |
| Tamilnad Mercantile Bank Limited | 14.4% to 16.4% |
| Telangana Grameena Bank | 10.22% to 15% |
| The Andhra Pradesh State Cooperative Bank Limited | 11% to 15% |
| The Gujarat State Cooperative Bank Limited | 11.50% to 12.00% |
| The Mehsana Urban Cooperative Bank | 11.50% to 13.00% |
| The Nainital Bank Limited | 12% to 24% |
| The Surath Peoples Cooperative Bank Limited | 10.25% to 14% |
| The Tamil Nadu State Apex Cooperative Bank | N/A |
| Tjsb Sahakari Bank Ltd | 10.22% |
| Tripura Gramin Bank | 10.50% to 14.50% |
| Uco Bank | 14.10% to 15.10% |
| Union Bank Of India | The rate of interest applicable to the units is in the range of MCLR + 0.40% to MCLR + 1.65% i.e. 8.60% to 9.85% |
| United Bank Of India | N/A |
| Uttar Bihar Gramin Bank |
|
| Vijaya Bank | V- Mudra Card: MCLR+1.30%=9.80% V- Mudra Weavers' Card:
|
| Yes Bank | N/A |
