Mudra Loan Interest Rates in India - 01 Jan 2021

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 NameInterest Rates
Ahmedabad Mercantile Cooperative Bank11.50% to 13%
Allahabad BankMCLR 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 BankShishu 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 BankN/A
Axis Bank12% to 24%
Bank Of BarodaUp 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 India9.30% to 10.30%
Bank Of MaharashtraMSE 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
  1. SHISHU Loans ( up to Rs.50,000/-): 2.90% below BPLR i.e. 11.00%
  2. KISHORE Loans ( from Rs. 50,001/- to Rs.2,00,000/-): 2.90% below BPLR i.e. 11.00%
  3. KISHORE Loans ( from Rs. 2,00,001/- to Rs.5,00,000/-): 1.90% below BPLR i.e. 12.00 %
  4. TARUN Loans ( from Rs. 5,00,001/- to Rs.10,00,000/-): 1.90% below BPLR i.e. 12.00 %
Baroda Rajasthan Kshetriya Gramin Bank11% 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 LimitedN/A
Bihar Gramin Bank
  1. BIG SHISHU: 11.20%
  2. BIG KISHOR: 11.20%
  3. BIG TARUN: 11.20%
Canara Bank13.65%
Catholic Syrian Bank LimitedN/A
Central Bank Of India12.70%
Chaitanya Godavari Grameena BankN/A
Citizen Credit Cooperative Bank Limited10.50% to 11.75%
City Union Bank LimitedShishu - 12.00%
Kishore - 12.25%
Tarun - 12.50%
Corporation BankN/A
Dcb Bank LimitedN/A
Dena Bank13 % to 14%
Dena Gujarat Gramin Bank12% to 14%
Dombivli Nagari Sahakari Bank LimitedCASH 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 BankN/A
Hdfc Bank12.75% to 20%
Icici Bank Limited12% to 20%
Idbi Bank12.75% to 13.75%
Idfc Bank LimitedN/A
Indian Bank12.65% to 13.65%
Indian Overseas Bank9.45% to 14.70%
Indusind Bank12.99% to 18.25%
Jalgaon Janata Sahakari Bank LimitedN/A
Jammu And Kashmir Bank LimitedN/A
Kalupur Commercial Cooperative Bank10.50% to 14.50%
Karnataka Bank LimitedN/A
Karnataka Vikas Grameena Bank11.50% to 14.75%
Karur Vysya Bank13.9% to 16.40%
Kaveri Grameena BankN/A
Kerala Gramin Bank10.50% to 11.50%
Kotak Mahindra Bank Limited11.5% to 18%
Madhya Bihar Gramin Bank
  1. Up to Rs 50000/-: BPLR -4.40% = 9.60%
  2. Rs 50001/- to 200000/-: BPLR -3.80% = 10.20%
  3. Rs 200001/- to 10.00 Lakh: BPLR - 2.00% = 12.00%
Maharashtra Gramin BankN/A
Malwa Gramin BankN/A
Meghalaya Rural BankN/A
Narmada Jhabua Gramin Bank11.25% to 12.75%
Nutan Sahakari Bank Ltd11% to 13.50%
Oriental Bank Of Commerce11.20% to 12.95%
Pallavan Grama Bank12.65% to 13.65%
Pandyan Grama Bank9.45% to 14.70%
Pragathi Krishna Gramin BankMLR-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 BankN/A
Punjab And Sind BankMCLR + 1.75 % to MCLR + 2.25 % i.e. 10.15% to 10.65%
Punjab Gramin BankN/A
Punjab National BankMCLR 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 Bank12% to 14.50%
Rajkot Nagrik Sahakari Bank LimitedN/A
Rbl Bank Limited12% to 22%
Sarva Haryana Gramin Bank11% to 16.50%
Sarva Up Gramin BankN/A
Saurashtra Gramin Bank12.75% to 14.50%
South Indian Bank14.80%
State Bank Of India12.50% to 17.80%
Sutlej Kshetriya Gramin Bank10.50% to 16%
Syndicate BankUp 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 Limited14.4% to 16.4%
Telangana Grameena Bank10.22% to 15%
The Andhra Pradesh State Cooperative Bank Limited11% to 15%
The Gujarat State Cooperative Bank Limited11.50% to 12.00%
The Mehsana Urban Cooperative Bank11.50% to 13.00%
The Nainital Bank Limited12% to 24%
The Surath Peoples Cooperative Bank Limited10.25% to 14%
The Tamil Nadu State Apex Cooperative BankN/A
Tjsb Sahakari Bank Ltd10.22%
Tripura Gramin Bank10.50% to 14.50%
Uco Bank14.10% to 15.10%
Union Bank Of IndiaThe 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 IndiaN/A
Uttar Bihar Gramin Bank
  1. Up to Rs 50000/-: 11.50%
  2. Rs 50001/- to 500000/-: 12.00%
  3. Rs 500001/- to 10.00 Lakh: 12.00%
Vijaya BankV- Mudra Card: MCLR+1.30%=9.80%
V- Mudra Weavers' Card:
  1. Upto and inclusive of Rs.50,000/-: MCLR+1.50%=10.00%
  2. Above Rs.50000 and upto & inclusive of Rs.2.00 Lakhs: MCLR+2.00%=10.50%
  3. Above Rs.2.00 Lakhs and upto & inclusive of Rs.5.00 Lakhs: MCLR+2.75%=11.25%
Yes BankN/A