15 Lakh Home Loan EMI Interest Rate 2022

04 Oct 2021 // 28 min read // Home Loans
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15 Lakh Home Loan EMI Interest Rate

15 Lakh Home Loan EMI Interest Rate 2022

Is Rs.15 lakh the only hurdle between you and your dream home? The good news is that this shortfall can easily be overcome by a Rs. 15 lakh home loan. Numerous lending companies offer a Rs.15 lakh home loan at an affordable rate of interest.  Let’s understand the Home Loan Eligibility Criteria, documents required, and what will be the Rs. 15 lakh home loan EMI for 10 years, 15 years, and 20 years loan terms.

Click here to calculate Rs. 15 Lakhs Home Loan EMI

A home loan can be availed for different loan tenures. The maximum loan term allowed by financial companies is up to 30 years. The following table shows the EMI details for different loan tenures for a Rs. 15 lakh home loan availed at a rate of interest of 6.80% per annum.

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Loan AmountRate of InterestRepayment TermEMI per month
Rs. 15 lakh6.80% p.a.5 YearsRs.29,560
Rs. 15 lakh6.80% p.a.10 YearsRs.17,262
Rs. 15 lakh6.80% p.a.15 YearsRs.13,315
Rs. 15 lakh6.80% p.a.20 YearsRs.11,450
Rs. 15 lakh6.80% p.a.25 YearsRs.10,411
Rs. 15 lakh6.80% p.a.30 YearsRs. 9,779

Additional Info: Check the HDFC personal loan interest rates and apply for HDFC Personal Loan online with us.

Rs. 15 Lakh Home Loan EMI for 30 Years

The details of Rs. 15 lakh home loan EMI for a loan term of 30 years are as follows:

Additional Info: You can also check Best Home Loan Interest Rates

  • Loan Amount – Rs. 15,00,000
  • Rate of Interest – 6.80% p.a.
  • EMI value – Rs. 9,779
  • Total Interest – Rs. 20,20,397
  • Total Repayment – Rs. 35,20,397
YearPrincipalInterestBalance Principal
1Rs. 15,836Rs. 101,512Rs. 1,484,164
2Rs. 16,946Rs. 100,402Rs. 1,467,218
3Rs. 18,135Rs. 99,213Rs. 1,449,083
4Rs. 19,407Rs. 97,941Rs. 1,429,676
5Rs. 20,770Rs. 96,578Rs. 1,408,906
6Rs. 22,227Rs. 95,121Rs. 1,386,679
7Rs. 23,785Rs. 93,563Rs. 1,362,894
8Rs. 25,455Rs. 91,893Rs. 1,337,439
9Rs. 27,240Rs. 90,108Rs. 1,310,199
10Rs. 29,152Rs. 88,196Rs. 1,281,047
11Rs. 31,196Rs. 86,152Rs. 1,249,851
12Rs. 33,386Rs. 83,962Rs. 1,216,465
13Rs. 35,727Rs. 81,621Rs. 1,180,738
14Rs. 38,236Rs. 79,112Rs. 1,142,502
15Rs. 40,918Rs. 76,430Rs. 1,101,584
16Rs. 43,788Rs. 73,560Rs. 1,057,796
17Rs. 46,861Rs. 70,487Rs. 1,010,935
18Rs. 50,148Rs. 67,200Rs. 960,787
19Rs. 53,669Rs. 63,679Rs. 907,118
20Rs. 57,433Rs. 59,915Rs. 849,685
21Rs. 61,461Rs. 55,887Rs. 788,224
22Rs. 65,774Rs. 51,574Rs. 722,450
23Rs. 70,388Rs. 46,960Rs. 652,062
24Rs. 75,325Rs. 42,023Rs. 576,737
25Rs. 80,612Rs. 36,736Rs. 496,125
26Rs. 86,268Rs. 31,080Rs. 409,857
27Rs. 92,319Rs. 25,029Rs. 317,538
28Rs. 98,798Rs. 18,550Rs. 218,740
29Rs. 105,728Rs. 11,620Rs. 113,012
30Rs. 113,066Rs. 4,202RS. 0

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Additional Info: Check Banglarbhumi West Bengal Land Record in detail.

Rs. 15 Lakh Home Loan EMI for 25 Years

The details of Rs. 15 lakh home loan EMI for a loan term of 25 years are as follows:

  • Loan Amount – Rs. 15,00,000
  • Rate of Interest – 6.80% p.a.
  • EMI value – Rs. 10,411
  • Total Interest – Rs. 16,23,324
  • Total Repayment – Rs. 31,23,324

Additional Info: Looking for 30 Lakh Home Loan? Check EMI & Apply

YearPrincipalInterestBalance Principal
1Rs. 23,662Rs. 101,270Rs. 1,476,338
2Rs. 25,322Rs. 99,610Rs. 1,451,016
3Rs. 27,098Rs. 97,834Rs. 1,423,918
4Rs. 28,997Rs. 95,935Rs. 1,394,921
5Rs. 31,032Rs. 93,900Rs. 1,363,889
6Rs. 33,209Rs. 91,723Rs. 1,330,680
7Rs. 35,539Rs. 89,393Rs. 1,295,141
8Rs. 38,033Rs. 86,899Rs. 1,257,108
9Rs. 40,703Rs. 84,229Rs. 1,216,405
10Rs. 43,558Rs. 81,374Rs. 1,172,847
11Rs. 46,614Rs. 78,318Rs. 1,126,233
12Rs. 49,883Rs. 75,049Rs. 1,076,350
13Rs. 53,383Rs. 71,549Rs. 1,022,967
14Rs. 57,128Rs. 67,804Rs. 965,839
15Rs. 61,137Rs. 63,795Rs. 904,702
16Rs. 65,427Rs. 59,505Rs. 839,275
17Rs. 70,016Rs. 54,916Rs. 769,259
18Rs. 74,930Rs. 50,002Rs. 694,329
19Rs. 80,186Rs. 44,746Rs. 614,143
20Rs. 85,810Rs. 39,122Rs. 528,333
21Rs. 91,832Rs. 33,100Rs. 436,501
22Rs. 98,276Rs. 26,656Rs. 338,225
23Rs. 105,171Rs. 19,761Rs. 233,054
24Rs. 112,550Rs. 12,382Rs. 120,504
25Rs. 120,563Rs. 4,485Rs. 0

Also check AnyRoR Gujarat Land Record.

Rs. 15 Lakh Home Loan EMI for 20 Years

The details of Rs. 15 lakh home loan EMI for a loan term of 20 years are as follows:

  • Loan Amount – Rs. 15,00,000
  • Rate of Interest – 6.80% p.a.
  • EMI value – Rs. 11,450
  • Total Interest – Rs. 12,48,021
  • Total Repayment – Rs. 27,48,022
YearPrincipalInterestBalance Principal
1Rs. 36,524Rs. 100,876Rs. 1,463,476
2Rs. 39,086Rs. 98,314Rs. 1,424,390
3Rs. 41,830Rs. 95,570Rs. 1,382,560
4Rs. 44,763Rs. 92,637Rs. 1,337,797
5Rs. 47,904Rs. 89,496Rs. 1,289,893
6Rs. 51,265Rs. 86,135Rs. 1,238,628
7Rs. 54,861Rs. 82,539Rs. 1,183,767
8Rs. 58,711Rs. 78,689Rs. 1,125,056
9Rs. 62,829Rs. 74,571Rs. 1,062,227
10Rs. 67,238Rs. 70,162Rs. 994,989
11Rs. 71,956Rs. 65,444Rs. 923,033
12Rs. 77,004Rs. 60,396Rs. 846,029
13Rs. 82,408Rs. 54,992Rs. 763,621
14Rs. 88,189Rs. 49,211Rs. 675,432
15Rs. 94,376Rs. 43,024Rs. 581,056
16Rs. 100,998Rs. 36,402Rs. 480,058
17Rs. 108,084Rs. 29,316Rs. 371,974
18Rs. 115,666Rs. 21,734Rs. 256,308
19Rs. 123,782Rs. 13,618Rs. 132,526
20Rs. 132,591Rs. 4,932Rs. 0

Apply Online ICICI Home Loan

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Rs. 15 Lakh Home Loan Interest Rates

Several banks and non-banking financial companies (NBFCs)offer a competitive rate of interest for Rs.15 lakh home loans. Listed below is the most competitive rate of interest available on a Rs.15 lakh home loan. 

Additional Info: You can also avail Bandhan Bank Home Loan

Name of BankRate of Interest
CitiBankStarting 6.50% p.a. 
Kotak Mahindra Bank6.55% p.a.  - 7.20% p.a. 
ICICI Bank6.70% p.a.  -  7.55% p.a.
HDFC Bank6.70% p.a.  -  7.65% p.a. 
SBI Bank6.70% p.a.  - 7.5% p.a. 
IDFC First Bank6.90% p.a.  -  10.5% p.a. 
Yes Bank9.60% p.a.  - 12% p.a. 

Additional Info: Also check LRD Loan.

Popular Banks providing Rs. 15 Lakh Home Loan

Numerous banks provide a Rs.15 lakh home loan. The top lenders offering Rs. 15 lakh home loans at the most attractive features and affordable rate of interest are:

CITIBANK Home Loan
ICICI Bank Home Loan
HDFC Bank Home Loan
SBI Bank Home Loan
Kotak Mahindra Bank Home Loan
IDFC First Bank Home Loan
Yes Bank Home Loan
Axis Bank Home Loan
IDBI Bank Home Loan
Bank of Baroda Home Loan
PNB Bank Home Loan

Eligibility Criteria

To get the home loan approved, the borrower must meet the eligibility conditions. These are general rules which the borrower must fulfill. These include:

Additional Info: Looking for 40 Lakh Home Loan? Check EMI & Apply.

Eligibility HeadEligibility Criteria
Age

The home loan applicant should be at least 21 years old.

The maximum age of the applicant can vary between 60 – 65 years, depending upon the lender policy and job profile of the applicant.

The maximum number of years for which the loan can be availed cannot exceed the total number of years left until retirement.

Job ProfileThe home loan borrower can be a salaried, self-employed professional or self-employed non-professional. 
Income

The home loan borrower must have a stable job profile and regular income. 

Different banks and lending institutions have fixed minimum income requirements which the applicant must meet.

Work Experience

The salaried individual must be in a job for at least 2 years with at least one year with the current employer.

Self-employed individuals (professional and non-professionals) must be in the same business for at least 3 years of which at least 2 years should be profitable.

Residential StatusIndian citizens and Non-Resident Indians are eligible for a home loan.
Credit ScoreThe credit score of the applicant must be 650 points or above.
Debt-Income Ratio

The Debt-Income ratio must be less than 50%.

The lower the ratio, the higher will be the chances of loan approval.

Additional Info: Also get Canfin Home Loan

Documents Required

A home loan is approved only after careful verification and scrutiny of the documents. The documents that need to be submitted along with the home loan application are:

Category NameDocument Accepted
Age Proof (Any One)
  • Passport
  • Driving License
  • Life Insurance Policy
  • Birth Certificate
  • PAN Card
  • School Leaving Certificate
Identity Proof (Any One)
  • Passport
  • Driving License
  • PAN Card
  • Voter ID
Residence Proof (Any One)
  • Utility Bill
  • Bank Statements
  • Property Registration Documents
  • Property Tax Receipt
  • Voter ID
Income Proof (All)SalariedSelf-Employed
  • Salary slips for the last three months
  • Appointment letter
  • Yearly increment letter
  • Form No. 16
  • Bank account statement of the salary account
  • Cheque for the processing fee amount issued from the salary account
  • IT returns for the last two years with supportive documents
  • Business profile on the letterhead
  • Registration certificate for business commencement
  • Bank account statement for last six months of operative current account
  • Bank statements for the last six months
  • Cheque for the processing fee amount issued from the business account

Also Read - 50 Lakh Home Loan EMI Interest Rate

FAQs

✅What will be the Rs. 15 lakh home loan EMI for 10 years?

Rs. 15 lakh home loan EMI for 10 years @ rate of interest 6.80% p.a. as offered by SBI Bank is Rs.17,262.

✅What will be the Rs. 15 lakh home loan EMI for 20 years?

Rs. 15 lakh home loan EMI for 20 years @ rate of interest 6.80% p.a. as offered by SBI Bank is Rs.11.450.

✅What is Rs. 15 lakh home loan EMI for 10 years from YES Bank?

YES Bank offers home loans at a rate of interest starting at 9.60% p.a. The Rs. 15 lakh home loan EMI for 10 years from YES Bank is Rs.19,492.

✅What is Rs. 15 lakh home loan EMI for 10 years from HDFC Bank?

HDFC Bank offers home loans at a rate of interest starting at 6.75% p.a. The Rs. 15 lakh home loan EMI for 10 years from HDFC Bank is Rs.17,224.

✅What bank has the lowest Rs.15 lakh home loan EMI for 10 years?

Citibank offers the lowest rate of interest for home loans starting at 6.50% p.a. Its Rs.15 lakh home loan EMI for 10 years is Rs. 17,032.

Additional Info: How to get Pradhan Mantri Awas Yojana