Are there any prepayment penalties for Mudra Loan EMIs?

No, there are usually no prepayment penalties for repaying Mudra Loan EMIs. Banks and financial institutions offering Mudra loans often allow you to make partial or full prepayments without any additional charges, which can help reduce the total interest paid over the loan period. However, the policies may vary slightly depending on the lender. So, it is important to confirm the prepayment terms with the institution providing the loan. Prepaying your loan can save you money on interest and help you become debt-free sooner. If you are considering opting for a MUDRA loan, it is important to understand the interest payable and the EMI. For that, you can use the MUDRA loan EMI calculator to make an informed decision.