The interest rate for a MUDRA loan varies depending on the lending institution and the type of loan. MUDRA loans are offered by various banks and financial institutions in India, including State Bank of India (SBI), Bank of Baroda, Punjab National Bank (PNB), and others.
For instance, the interest rate for a MUDRA loan offered by SBI ranges from 8.50% to 12.35% per annum, depending on the type of loan and the borrower’s creditworthiness. However, please note that interest rates are subject to change and may vary from time to time.
It is important to note that MUDRA loans are provided under the Pradhan Mantri MUDRA Yojana (PMMY), which is a government scheme aimed at providing loans to small and micro-enterprises in the country. The loan amount under this scheme ranges from Rs. 50,000 to Rs. 10 lakhs.
Therefore, to know the exact interest rate for a MUDRA loan of 50000, you can contact the nearest SBI branch or any other bank that offers MUDRA loans and enquire about the interest rates and other terms and conditions associated with the loan.