Unlock financial freedom with a ₹15 Lakhs Personal Loan
A personal loan of ₹15 Lakhs, available on Bajaj Markets, is a viable financial solution for diverse needs. You can choose from multiple lenders who offer the 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 a loan anytime, anywhere.
Here is a list of some of the prominent lenders that offer personal loans of ₹15 Lakhs on Bajaj Markets:
Lenders |
Starting Interest Rate |
Kotak Mahindra Bank |
10.99% p.a. |
Bajaj Finance |
11.00% 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 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 |
12 months |
₹1,32,565 |
₹90,786 |
₹15,90,786 |
24 months |
₹69,905 |
₹1,77,715 |
₹16,77,715 |
36 months |
₹49,101 |
₹2,67,635 |
₹17,67,635 |
48 months |
₹38,761 |
₹3,60,528 |
₹18,60,528 |
60 months |
₹32,606 |
₹4,56,369 |
₹19,56,369 |
72 months |
₹28,551 |
₹5,55,681 |
₹20,55,681 |
84 months |
₹25,684 |
₹6,57,427 |
₹21,57,427 |
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 personal loan of ₹15 Lakhs, 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
Other Instant Personal Loan Options |
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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.
You can get this loan through a hassle-free online process on Bajaj Markets by providing basic necessary documents.
Interest rates for personal loans start from 10.99% p.a. on Bajaj Markets.
No, you can secure a personal loan of ₹15 Lakhs without submitting any of your assets as collateral.
Yes, you can secure a loan of ₹15 Lakhs from Bajaj Markets by meeting the set eligibility requirements and providing essential documents.
Yes, personal loans have no usage restrictions, allowing you to cover tuition fees and other higher education expenses.
Leading financial institutions like Bajaj Finance Limited, Kotak Mahindra Bank, SMFG India Credit, and YES BANK offer loans of ₹15 Lakhs on Bajaj Markets.
Here are some common requirements you may be required to fulfil when applying for a loan of ₹15 Lakhs:
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
Generally, you can repay your personal loan of ₹15 Lakhs over tenures ranging from a few months to 8 years.
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.
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.
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.