Unlock financial freedom with a ₹15 Lakh Loan
Get Lowest Personal Loan Interest Rate ✓ Quick Disbursal ✓ Minimum Documentation!
A ₹15 Lakh personal loan, available on Bajaj Markets, is a viable financial solution for diverse needs. You can choose from multiple lenders who offer the ₹15 Lakh personal loan on the platform. The loan comes with low interest rates starting at 10.99% p.a. and repayment periods of up to 96 months. Furthermore, the simple online application process makes it easy for you to instantly apply for ₹15 Lakh loan anytime, anywhere.
Here is a list of some of the prominent lenders that offer ₹15 Lakh personal loan on Bajaj Markets:
Lenders |
Starting Interest Rate |
Kotak Mahindra Bank |
10.99% p.a. |
Bajaj Finance |
10.00% p.a. |
SMFG India Credit |
12.00% p.a. |
YES BANK |
12.50% p.a. |
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Assume that the interest rate charged on your ₹15 Lakh personal loan is 11% p.a. Here’s how a change in tenures will affect your monthly instalments:
Tenure |
EMI Amount |
Total Interest Payable |
Total Repayment Cost |
1 year (12 months) |
₹1,32,565 |
₹90,786 |
₹15,90,786 |
2 years (24 months) |
₹69,905 |
₹1,77,715 |
₹16,77,715 |
3 years (36 months) |
₹49,101 |
₹2,67,635 |
₹17,67,635 |
4 years (48 months) |
₹38,761 |
₹3,60,528 |
₹18,60,528 |
5 years (60 months) |
₹32,606 |
₹4,56,369 |
₹19,56,369 |
6 years (72 months) |
₹28,551 |
₹5,55,681 |
₹20,55,681 |
7 years (84 months) |
₹25,684 |
₹6,57,427 |
₹21,57,427 |
8 years (96 months) |
₹23,563 |
₹7,62,013 |
₹22,62,013 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
You can use a personal loan EMI calculator to adjust the interest rate and tenure to find the loan terms that best suit your repayment capabilities.
To get a ₹15 Lakh personal loan, ensure to fulfil the following requirements:
Age: 18 years or above
Nationality: Indian
Credit score: 750 or more
Type of employment: self-employed professional, self-employed non-professional, or salaried
Minimum work experience: 2-3 years
Minimum monthly income: ₹15,000
Also, keep the following documents ready before you apply to ensure a smooth and hassle-free process:
Identity Proof: Any one of the following
Aadhaar card
Passport
PAN card
Driving licence
Voter ID
Address Proof: Any one of the following
Passport
Aadhaar card
Driving licence
Utility bills for electricity, telephone, gas, etc.
Voter ID
Income Proof:
Salary slips of the previous 3 months
Bank statement
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Frequently Asked Questions
How can I secure a ₹15 Lakh personal loan?
You can get ₹15 Lakh loan through a hassle-free online process on Bajaj Markets by providing basic necessary documents.
What is the interest rate charged on ₹15 Lakh personal loan?
Interest rates for ₹15 Lakh personal loan start from 10.99% p.a. on Bajaj Markets.
Is collateral required for ₹15 Lakh personal loan?
No, you can secure a personal loan of ₹15 Lakhs without submitting any of your assets as collateral.
Is a ₹15 Lakh loan available on Bajaj Markets?
Yes, you can secure ₹15 Lakh loan from Bajaj Markets by meeting the set eligibility requirements and providing essential documents.
Which lenders offer a personal loan of ₹15 Lakhs on Bajaj Markets?
Leading financial institutions like Bajaj Finance Limited, Kotak Mahindra Bank, SMFG India Credit, and YES BANK offer ₹15 Lakhs loan on Bajaj Markets.
What are the eligibility criteria for a personal loan of ₹15 Lakhs?
Here are some common requirements you may be required to fulfil when applying for ₹15 Lakhs loan:
Credit Score: 750 or higher
Age: 18 years and above
Employment Type: Salaried or self-employed
Work Experience: 2-3 years
Minimum Monthly Income: ₹15,000
Citizenship: Indian
What is the minimum and maximum tenure for a personal loan of ₹15 Lakhs?
Generally, you can repay your personal loan of ₹15 Lakhs over tenures ranging from a few months to 8 years.
How fast can I get ₹15 Lakh loan?
While it may vary from one lender to another, usually you can borrow ₹15 Lakhs within 3-5 business days. Some lending partners also offer disbursal time ranging from just a few minutes to a couple of days.
What will happen if I default on my ₹15 Lakh personal loan?
In case of default, the lender charges a penalty fee as per their policies. Additionally, your credit score is impacted, making it difficult for you to qualify for a loan in the future. If the default continues for a long period, the lender may press legal charges against you.
What are the factors that can affect the EMI for a ₹15 Lakh personal loan?
The amount you borrow, the interest rate, and the loan duration all play a significant role in determining the EMI for your personal loan of ₹15 Lakhs. To see how different combinations of these factors affect your monthly payment, you can use a personal loan EMI calculator.
These loan terms are influenced by several factors, like your debt-to-income ratio, credit score, income, and repayment history. It's important to monitor these, as they indirectly impact the amount of your EMI.
