₹15 Lakh Home Loan EMI

Check ₹15 Lakh Home Loan EMI & Interest Rate

✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50%

You may be able to take care of a majority of the property cost yourself, and for the amount you are running short of, you can always take a home loan of up to ₹15 lakh. But, keep in mind that once you take up a home loan of ₹15 lakh, you will have to be extremely disciplined with regards to equated monthly instalment (EMI) payments until the end of the loan repayment tenure. Read on to know more about how to secure a home loan of ₹15 lakh through Bajaj MARKETS. 

EMI Calculations for a Home Loan of 15 Lakh at Varying Tenures

Your ₹15 lakh home loan EMI amount will majorly depend on your interest rate as well as loan repayment tenure. The longer your repayment period is, the smaller your monthly EMI outflow will be and vice-versa. But, if you choose to pay your ₹15 lakh home loan EMI over longer periods of time, you will ultimately end up paying more money in interest as compared to what you would over a shorter tenure. The EMI amount that you will pay towards your ₹15 lakh home loan over different periods of repayment will look as follows. For the same, we are assuming that your applicable interest rate is 8.5% p.a

Loan Amount

Loan Tenure

Interest Rate

EMI Payable

₹15 lakh

15 years

8.5% per annum


₹15 lakh

20 years

8.5% per annum


₹15 lakh

25 years

8.5% per annum


₹15 lakh

30 years

8.5% per annum


15 Lakhs Home Loan EMI Calculator

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

Interest Rates Applicable on a ₹15 Lakh Home Loan

You can avail a home loan from any Bajaj MARKETS’ lending partner starting at an interest rate of 8.60% per annum onwards. You must always compare the home loan repayment terms of various lenders and then go for the home loan option that is pocket-friendly for you.

Eligibility Criteria for a ₹15 Lakh Home Loan

You must satisfy a certain set of criteria to be eligible for a home loan. The eligibility criteria for house loan are as follows:


  • Age: You must be at least 21 years of age at the time of applying for the loan and at most 60 at the time of loan maturity.

  • Employment Status: You must be a salaried employee who has been working with a company of repute for at least three years. If you are a self-employed individual, you must be generating consistent profits from your venture for at least 5 years.

  • Credit Score: Most banks will want your credit score to be equal to or above 750. If your credit score is higher than that, you can secure a ₹15 lakh home loan at lower interest rates too.

  • Income: You should meet the minimum monthly income criteria which is set by your lender. The same can differ from location to location and lender to lender.

How to Apply for a ₹15 lakh Home Loan?

Applying for a ₹15 lakh home loan through Bajaj MARKETS is fairly simple. Follow through the given steps to get your loan without any hassles.


  • Step 1: Enter personal details: First, you must help yourself to the Home Loan application page on Bajaj MARKETS. Then, you must fill in your personal and income details and get instant home loan eligibility.

  • Step 2: Pick Your Lending Partner: Select Bajaj Housing Finance Limited from the list of partners and get going.

  • Step 3: Know Your Borrowing Power: Find out the home loan amount you could possibly avail while staying in the confines of your budget.

  • Step 4: Mention Requirement and Property Details: Fill your required home loan amount along with the property details.

  • Step 5: Unlock Your Loan Offer: Find out your loan details along with all the charges and net disbursal amount. Post this, a loan expert will connect with you to process your application further.

Documents Required for a ₹15 lakh Home Loan

In order for your home loan application to be processed by the bank/NBFC, you need provide following home loan documents.


  • Proof of identity: Driving Licence/Passport/Aadhaar Card or Voter ID

  • Proof of address: Driving Licence/Passport/Aadhaar Card/Utility Bills

  • Income proof: Salary slips going back at least three months/six months’ bank statements/latest copy of your Form-16 and/or your Income Tax Returns

  • Property documents: A copy of your allotment letter/buyer agreements or deed of sale

How to Minimise Your ₹15 lakh Home Loan EMI Amount?

You can reduce your ₹15 lakh home loan EMI amount in the following ways:


  • Go for a longer repayment tenure: Longer home loan repayment tenures will mean that you will pay a smaller amount as EMIs towards the same and vice-versa.

  • Get a lower interest rate: You can always compare your home loan options and go for the one that attracts the lowest possible interest rate. A lower interest rate will translate to lower EMI amounts.

  • Improve your CIBIL score: Ideally, you should have a CIBIL score of 750 or above while applying for home loan. But, the higher your CIBIL score will be, the lower interest rate you will unlock. You can improve your CIBIL score by reducing your credit utilisation ratio, paying your loans on time and foreclosing your other existing personal loans.

  • Talk to your bank: If you have a long-standing relationship with your banker and have taken loans in the past from them that you have paid on time, you can always talk to him/her and get your home loan interest rate reduced. A reduction in your home loan interest rate will also reduce your home loan EMI amount.

  • Make a sizable downpayment: A big down payment will reduce your home loan requirement which will ultimately reduce your EMI amount as well.

Factors that affect Your ₹15 Lakhs Home Loan EMI

The following factors will affect your ₹15 lakh home loan EMI amount:


  • Loan repayment tenure: Longer loan repayment tenure will mean that you will pay lower home loan EMIs every month and vice-versa.

  • Interest rate: Rates of interest directly impact your home loan EMIs. You will pay lower home loan EMI amounts if your interest rate is low and the opposite of it is true as well.

  • Credit score: If you have a good credit score (750 or above), you can get a home loan at a lower interest rate than the ones whose credit score is in the range of 650-749 or even lower than that.

  • Loan amount: Higher loan amount will mean a higher interest rate, resulting in a higher payable EMI amount every month and vice-versa.

  • Loan to Value (LTV) Ratio: A higher loan to value ratio will mean that you are a high-risk individual, which will mean that the lender may charge you a high interest rate.

15 Lakhs Home Loan EMI FAQs

  • ✔️What will the EMI calculations for a home loan ranging between ₹1-5 Lakhs be?

    The EMI amount for a home loan between ₹1-5 lakhs will depend on your interest rate and loan repayment tenor and it can vary from lender to lender. You might want to check with the lender regarding the same and then use the EMI calculator on Bajaj MARKETS to compute the same.


  • ✔️What will the EMI calculations for a home loan ranging between ₹6-9 Lakhs be?

    The EMI amount for a home loan between ₹6-9 Lakhs will depend on your interest rate and loan repayment tenor. It will also vary from lender to lender. You might want to check with the lender regarding the same. Post that, you can use the EMI calculator on Bajaj MARKETS to compute your monthly EMI outflow.