Mudra Loans

About Mudra Loans

Instant Personal Loan app
Apply for an instant personal loan of up to Rs.10lakh from the Mudra Loans instant loan app and get quick approval with minimal documentation. Borrow the amount without pledging any collateral and get quick disbursal. An instant personal loan is available for professionals as well as self-employed individuals at affordable interest rates.

Highlights of instant personal loan:
* Finance Amount: ₹50,000 to ₹10 Lakh
* Repayment Tenure: 6 to 84 months
* Rate of Interest / Annual Percentage Rate (APR): 12% to 34%
* Processing Fees: ₹500 to ₹2000

Example of a Personal Loan:
For ₹1,00,000/- borrowed, at an interest rate of 2% p.m. for 12 months (interest rate on reducing balance method), the payable amount would be:
Processing fee = ₹1000
Other charges = ₹100
Interest = ₹13,472
Total amount repaid after a year = ₹1,14,572

*Interest rate and processing fees vary as per the products