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₹15 Lakh Home Loan EMI

Know the EMI for a home loan of ₹15 Lakhs to borrow within your budget
Your Monthly Loan EMI
₹ 18,598
Total Interest
₹ 731,742
Principal Amount
₹ 15,00,000
Total Payable Amount
₹ 22,31,742
Loan Amount i
Interest Rate
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Tenure
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You can easily compare Home Loan offers from multiple lenders on Bajaj Markets.

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This platform also provides a clear view of the total interest payable and the overall repayment amount, enabling you to plan your finances and budget more efficiently.

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Getting a home loan of ₹15 Lakhs is a significant decision. By calculating the EMI for a home loan of ₹15 Lakhs, you are in a better position to find feasible terms and plan your finances accordingly.

Moreover, it is much easier to find a tenure that allows for a hassle-free repayment process. With an EMI calculator, you can compute the EMI for various loan terms conveniently and find an affordable option that suits your financial needs.

EMI for a Home Loan of ₹15 Lakhs for Various Tenures

Considering that tenure is a factor that will affect your ₹15 Lakh home loan EMI amount, it helps to know the specifics. Here’s a table that shows how the EMI amount varies as per tenure.

Loan Amount

Interest Rate (p.a.)

Repayment Tenure

EMI Amount

₹15 Lakhs

8.50%

10 Years

₹18,598

₹15 Lakhs

8.50%

20 Years

₹13,017

₹15 Lakhs

8.50%

25 Years

₹12,078

₹15 Lakhs

8.50%

30 Years

₹11,534

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying. 

Detailed Breakup of Home Loan of ₹15 Lakhs for 10 Years

Here is the calculation of EMI for a home loan of ₹15 Lakhs for 10 years:

Loan Amount

₹15 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

10 Years

EMI Amount

₹18,598

Total Interest Payable

₹7,31,742

Total Payable Amount

₹22,31,742

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

Detailed Breakup of Home Loan of ₹15 Lakhs for 20 Years

Check out this table for EMI payable for a home loan of ₹15 Lakhs for 20 years:

Loan Amount

₹15 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

20 Years

EMI Amount

₹13,017

Total Interest Payable

₹16,24,164

Total Payable Amount

₹31,24,164

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

Detailed Breakup of Home Loan of ₹15 Lakhs for 30 Years

This table includes the calculation of EMI for a home loan of ₹15 Lakhs for 30 years:

Loan Amount

₹15 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

30 Years

EMI Amount

₹11,534

Total Interest Payable

₹26,52,133

Total Payable Amount

₹41,52,133

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying. 

Lenders Offering Home Loans of ₹15 Lakhs

Lenders

Starting Interest Rate

PNB Housing Finance

8.50% p.a.

L&T Finance

8.60% p.a.

LIC Housing Finance

8.65% p.a.

Kotak Mahindra Bank

9.00% p.a.

ICICI Bank

9.00% p.a.

Home First Finance Company

9.00% p.a.

Shubham Housing Finance

9.90% p.a.

Shriram Housing Finance

11.50% p.a.

Vridhi Home Finance

12.00% p.a.

India Shelter

13.00% p.a.

*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.

Eligibility Criteria & Documents Required for a ₹15 Lakh Home Loan

Here are some common criteria you may be required to fulfil to qualify for a home loan of ₹15 Lakhs:

  • You should have Indian citizenship and be residing in India

  • If salaried, your age should be within the range of 23 to 62 years

  • If self-employed, your age should be within the range of 25 to 70 years 

  • If salaried, you should have a minimum work experience of 3 years 

  • If self-employed, your business must have a minimum vintage of 5 years

Ensure to have the following documents handy to speed up the application process:

  • ID Proof: Any of the following

    • Driving licence

    • Aadhaar card

    • PAN card

    • Voter ID

  • Residential Proof: Any of the following

    • Aadhaar card

    • Passport

    • Utility bills

  • Income Proof:

    • For Self-employed Applicants:

      • Degree/qualification certificates for self-employed professionals 

      • Profit and loss statement of the last 3 years

      • ITR filings of the last 2 years

      • Business licence details

      • Latest balance sheet of the business, audited by a certified CA

      • TDS certificate

  • For Salaried Applicants: 

    • Form 16

    • ITR filings of the last 2 years

    • Salary slips of the last 3 months 

These requirements may vary depending on the lender you choose. So, do reach out to your chosen lender and get a complete list of the criteria and documents required from the lender before applying.

Other Home Loan EMI Options

FAQs on ₹15 Lakh Home Loan EMI

What will be the EMI amount for a home loan of ₹15 Lakhs for 10 years?

The EMI for a home loan of ₹15 Lakhs for 10 years at an interest rate of 8.50% p.a. will be ₹18,598.

At an interest rate of 8.50% p.a., the EMI for a home loan of ₹15 Lakhs for 20 years will amount to ₹13,017.

Yes, you can apply for a home loan of ₹15 Lakhs with various lenders online as well as offline.

The EMIs payable depend on the tenure. For instance, the EMI for a home loan of ₹15 Lakhs for 10 years at an interest rate of 8.50% p.a. will amount to ₹18,598.

Yes. Home loans are secured loans wherein the purchased property is considered as collateral. Thus, the risk associated with the loan for the lender is reduced. So, they may be willing to offer you a loan despite a lower credit score. However, in such cases, the loan terms offered may not be as favourable. A higher interest rate may be charged on the loan or the options for repayment may be limited. 

Yes. You can foreclose or prepay your home loan of ₹15 Lakhs. However, depending on the policies of your lender, you may be asked to pay a small fee for utilising this facility. Do check the charges applicable before choosing this option. 

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