15 Lakh Loan

A sudden cash crunch can be daunting. There can be circumstances when you need financial aid urgently. In such situations, a personal loan can be beneficial in many ways. A Rs. 15 Lakh loan can be obtained without providing any collateral in the form of a personal loan. You can easily repay Rs. 15 Lakh personal loan EMI for 5 years tenure. You can apply for a short-term personal loan up to Rs. 15 Lakhs instantly with minimal documents in a completely paperless manner.


Apply for Rs. 15 Lakh Personal Loan Online

You can apply for Rs. 15 Lakh personal loan for tenure up to 5 years (6 years in some cases) from any bank or financial institution online as well as offline. While you would be required to visit the branch to apply for the loan and submit the required documents in the offline procedure, the online process is much more instant and simple. All you need to do is fill in an online application form for a personal loan of 15 Lakhs on our website and follow the given instructions.

Eligibility Criteria for Rs. 15 Lakhs Personal Loan

The Personal Loan Eligibility criteria may vary from lender to lender. Below are some common Rs. 15 Lakh personal loan eligibility criteria to be fulfilled to apply for the loan:

  • Age: Personal loans can be availed of by individuals aged above 21 years when applying for the loan and below 65 years when the loan matures. 
    Occupation: Personal loans are available to the salaried as well as self-employed individuals. However, salaried applicants are preferred more by lenders as their income and employment are more stable. 
  • Income: Salaried employees must be earning at least Rs. 25,000 while self-employed individuals need to have an annual income of Rs. 5 Lakhs to get a personal loan upto 15 Lakhs.
  • Credit score: The credit score shows the creditworthiness and repayment capacity of the borrower and that is why lenders check the credit score of applicants for personal loans. Most lenders require you to have a minimum CIBIL score of 750 or above for sanctioning a personal loan. However, some lenders (mainly non-banking financial companies) allow personal loans to individuals having a credit score of 700 and above. A higher Credit Score leads to instant personal loan approval.

Documents Required for 15 Lakh Loan

Once you meet the eligibility criteria mentioned above, you will have to furnish the following documents to support your eligibility for a personal loan for 15 Lakhs:

KYC documents: You must present your KYC documents such as any photo identity document issued by government like passport, driving license, PAN Card, aadhar card, voter ID card, and so on. You must also submit 2 recent passport size photographs with the completely filled in application form when applying for a loan of Rs 1500000 lakh. 
Address proof: The residence proof includes aadhar card, voter's ID card, driving license, passport, and so on. 
Income proof: Income proof is required to determine your repayment capacity. Your loan amount is based on your income. As income proof, you must show salary slips of the last 2 months or a salary certificate issued by your current employer, income tax returns, Form 16, and a bank statement of the account where your salary for the past 6 months is credited. Self-employed persons can show their trade license, GSR registration certificate, income tax returns and financial statements as income proof.

Top Banks for Rs. 15 Lakhs Personal Loan

BanksInterest Rates
Navi9.9% onwards
SBI Personal loan11.15%
PNB Personal Loan11.40%
HDFC Personal Loan10.75%
Kotak Personal Loan10.99%
Bajaj Finserv Personal Loan11% onwards

The Personal Loan Interest Rates mentioned above vary depending on the borrower’s requirement, age, income, occupation, credit score and other factors. Also check the list of Top banks offering Personal Loan for Women at lowest Interest Rates.

How to Apply for a Rs. 15 Lakh Personal Loan?

Follow the steps given below to apply for a 15 lakhs personal loan instantly:

  • Visit the official website of the personal loan provider or MyMoneyMantra. 
  • Enter the required details including your name, mobile number, email address, income , loan amount, tenure, etc.
  • Submit the documents required by the lender, such as KYC documents, income documents, residence proof, etc.
  • Wait for the final decision of the loan provider. It takes a few days for the lender to check your documents and determine your eligibility based on the information provided.
  • On approval, get the Rs. 15,00,000 loan credited to your bank account instantly.

What to Do with a Rs. 15 Lakh Personal Loan?

An Rs. 15,00,000 Personal Loan can be used for various purposes including the below-mentioned ones:

  • Wedding: Planning a wedding in India is a costly affair. It is not easy for common salaried people to arrange for such an amount immediately. You can use Personal loans for wedding related expenses such as venue booking, catering, gifts, shopping, and so on.
  • Vacation: Traveling abroad can be expensive and out of budget for many. However, with a personal loan, you can fund your dream of travelling to any destination of your dream. You can use personal loans for travel-related expenses like flight or train tickets, accommodation, local transportation, fun activities, food and so on.
  • Home improvement: You can utilize the personal loan amount for home improvement related expenses including paint, repairs, remodelling, extension, furniture shopping, etc. A Rs. 15 Lakh personal loan is usually enough to meet such needs.
  • Debt consolidation: The Personal Loan Debt Consolidation enables bringing all existing loan EMIs and credit card payments together under a single loan. You can apply for a new loan to combine all your existing obligations under a single EMI. 
  • Medical emergency: Personal loans can be used for  unexpected medical emergencies. Most of the time, insurance money is not enough to cover the sudden big medical expense. It is easy to get a 15 Lakh loan for financing expensive treatments.
  • Personal loan balance transfer: Most lenders offer the facility to transfer your high-interest rate personal loan from other lenders to theirs at a lower rate of interest. This facility is called a personal loan balance transfer.

How Do I Calculate My Rs. 15 Lakh Personal Loan EMI?

You can easily calculate your Rs. 15 lakh personal loan EMI for 10 years or different tenures with an online Personal Loan EMI Calculator. Here’s how to use it:

  • Open the 15 lakh personal loan EMI calculator available online. 
  • Enter the required loan amount (Rs. 15 Lakhs in the present scenario).
  • Enter the rate of interest as charged by the lender. 
  • Enter the required loan tenure to get your 15 lakh personal loan EMI and the amortization schedule quickly.

15 Lakh Personal Loan EMI for 5 Years & 10 Years

BanksInterest Rates15 Lakh Loan EMI for 5 Years15 Lakh Loan EMI for 10 Years
SBI Personal loan10.30% to 12.30%Rs. 32,092 to Rs. Rs. 33,595Rs 19,823 to Rs. 21,782
PNB Personal Loan9.80% to 14.15%Rs. 31,723 to Rs. 35,019Rs. 19,246 to Rs. 23,425 
ICICI Bank Personal Loan10.25% to 19%Rs. 32,055 to Rs. 38,911Rs. 20,031 to Rs. 28,001
HDFC Personal Loan10.25% to 21%Rs. 32,801 to Rs. 40,580Rs. 20,875 to Rs. 29,990
Kotak Personal Loan11.49% to 24%Rs. 32,204 to Rs. 43,152Rs. 20,198 to Rs. 33,072
Bajaj Finserv Personal Loan13% onwardsRs. 34,130Rs. 22,397 onwards

Looking for Best Personal Loan Offer?

Fill the form by clicking on Apply Now Button and compare latest Interest Rate of all Banks/NFBCs for Instant and Quick Personal Loan Disbursal.

15 Lakh Personal Loan FAQs

Which bank is best for a Personal Loan of Rs. 15 Lakh?


SBI, PNB, ICICI and HDFC are some of the best banks to avail of personal loans of Rs. 15 Lakhs as they offer low-interest rates and long tenure. The public sector banks are best for availing of low-interest rates whereas the loan process is instant and hassle-free at private sector banks. 

What is the interest rate for Rs. 15 Lakh personal loan in India?


Rs. 15 lakh personal loan interest rate varies from 10.50% to 36% p.a. in India.

How to get Rs. 15 Lakhs loan immediately?


The best way to get Rs. 15 lakhs immediately is to apply for the loan online through the lender’s website or from MyMoneyMantra. 

How to get lowest interest rate on a Rs. 15 Lakh personal loan?


To get a 15 lakhs loan immediately at the lowest interest rate, you can increase your income source by including other sources of income like freelance, rent, deposits, spouse's income, etc. You can also increase your credit score to get the lowest interest rate on the loan.

What is the interest rate and EMI for SBI Rs. 15 Lakh Loan?


The interest rate for SBI personal loan starting @ 11.15%, depending on various eligibility factors. 15 Lakh personal loan EMI SBI for 5 years tenure is ₹32,726.

What are the factors that can affect Rs. 15 Lakh Personal Loan EMI?


The factors that affect the EMI on personal loan of 15 lakhs are the interest rate, loan amount, and repayment tenure. The higher the rate of interest, the higher the EMI will be. Similarly, the longer the tenure, the lower the EMI will be.

What will be the EMI for a Rs. 15 Lakh personal loan?


The EMI for an Rs. 15 Lakhs personal loan depends on the interest rate and the repayment tenure. Following are the EMI results on assuming the loan repayment tenure as 5 years and the loan amount as Rs. 15 Lakhs for our partner banks.

Can I avail ₹15 lakh loan without income proof?


There is no need to show proof of income to get a loan from L&T Finance for 15 lakhs.