Which bank is best for mudra loan

The best bank for a MUDRA loan depends on your specific business requirements and credit profile, as interest rates and processing fees vary across lenders. Public sector banks like State Bank of India (SBI), Bank of Baroda, and Punjab National Bank (PNB) are popular choices due to their extensive reach and competitive rates. Key factors to consider include:

• Interest rates, which typically range from 8% to 12% per annum
• Processing fees, which are often waived for Shishu and Kishor categories
• Repayment flexibility, with tenures usually up to 5 or 7 years