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.
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.
Additional Info: Looking for 15 Lakh Home Loan ? Check EMI & Apply.
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:
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.
|SBI Personal loan||10.65%|
|PNB Personal Loan||10.60%|
|HDFC Personal Loan||10.5%|
|Kotak Personal Loan||10.75%|
|Bajaj Finserv Personal Loan||13% 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.
Follow the steps given below to apply for a 15 lakhs personal loan instantly:
An Rs. 15,00,000 Personal Loan can be used for various purposes including the below-mentioned ones:
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:
|Banks||Interest Rates||15 Lakh Loan EMI for 5 Years||15 Lakh Loan EMI for 10 Years|
|SBI Personal loan||10.30% to 12.30%||Rs. 32,092 to Rs. Rs. 33,595||Rs 19,823 to Rs. 21,782|
|PNB Personal Loan||9.80% to 14.15%||Rs. 31,723 to Rs. 35,019||Rs. 19,246 to Rs. 23,425|
|ICICI Bank Personal Loan||10.25% to 19%||Rs. 32,055 to Rs. 38,911||Rs. 20,031 to Rs. 28,001|
|HDFC Personal Loan||10.25% to 21%||Rs. 32,801 to Rs. 40,580||Rs. 20,875 to Rs. 29,990|
|Kotak Personal Loan||11.49% to 24%||Rs. 32,204 to Rs. 43,152||Rs. 20,198 to Rs. 33,072|
|Bajaj Finserv Personal Loan||13% onwards||Rs. 34,130||Rs. 22,397 onwards|
Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.9% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.
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.
Rs. 15 lakh personal loan interest rate varies from 10.30% to 24% p.a. in India.
The best way to get Rs. 15 lakhs immediately is to apply for the loan online through the lender’s website or from MyMoneyMantra.
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.
The interest rate for SBI personal loan 15 Lakh ranges from 10.30% to 12.30%, depending on various eligibility factors. 15 Lakh personal loan EMI SBI for 5 years tenure ranges between Rs. 32,092 to Rs. Rs. 33,595.
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.
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.