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Personal Loan of Rs. 15 Lakh

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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Compare & Choose the Best Offer

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End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Personal Loan Interest Rate

The interest rate for a Rs. 15 lakh personal loan starts at 9.98% p.a. Factors such as your age, credit score, employment type, loan tenure, and more will influence the final personal loan interest rate offered to you.

Fees and Charges to Know

  • Processing Fees: Usually 0.5% to 4% of the loan amount
  • Stamp Duty Charges: As applicable by state
  • Legal Charges: At actuals
  • Late EMI Charges: Approximately 24% p.a.

Eligibility Criteria for Rs. 15 Lakh Loan

Listed below are the common personal loan eligibility criteria.

  • Age: 21 to 60 years
  • Work Stability: At least 1 year in current job for salaried and minimum 3 years of business vintage for self-employed
  • Income Requirement: For a personal loan of Rs. 15 lakh, the income requirement will be higher. Lenders require the applicant's EMI-to-income ratio to be within 50-55%.
  • Credit Score: 750+ is usually preferred

Documents Required for Rs. 15 Lakh Personal Loan

The application process is simple, and with the right documents in place, approvals and disbursals are typically quick. Listed below are the required documents for a personal loan.

  • Identity Proof: PAN, Passport, Aadhaar Card, Voter ID
  • Address Proof: Aadhaar Card, Utility Bill, Passport
  • Income Proof:
    • Salaried: Last 3 months’ salary slips
    • Self-Employed: ITR (last 1–2 years)
    • Last 6 months’ bank statements
    • Passport Size Photographs

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EMI & Interest Breakdown for Rs. 15 Lakh Personal Loan (1–5 Year Tenures)

Have a look at the EMI for a personal loan of Rs. 15 lakh at 11.50% p.a. interest from 1 year to 5 years tenures:-

Tenure EMI Total Interest Total Payable
1 year Rs. 1,32,923 Rs. 95,071 Rs. 15,95,071
2 years Rs. 70,260 Rs. 1,86,251 Rs. 16,86,251
3 years Rs. 49,464 Rs. 2,80,704 Rs. 17,80,704
4 years Rs. 39,134 Rs. 3,78,409 Rs. 18,78,409
5 years Rs. 32,989 Rs. 4,79,335 Rs. 19,79,335

Tip: Always use an online personal loan EMI calculator to plan better.

Swipe to see more table data

Tips to Get a Rs. 15 Lakh Loan Without Hassle

A few smart steps can improve your chances of personal loan approval:

  • Maintain a high credit score since lenders are more likely to trust you if your score is higher than 750.
  • Lower your debt-to-income (DTI) ratio. Clear existing dues to show better repayment capacity.
  • Make prudent use of your credit cards. To demonstrate financial discipline, keep your credit utilization low.
  • Always make on-time bill and EMI payments. Having a spotless payback record increases your credibility.
  • Show steady employment. Long-term work experience and steady income will help you land better offers.

A Rs. 15 lakh personal loan can be a practical way to fund major expenses or long-term goals provided you have a solid repayment plan.

If you’re looking for a smaller amount, check our Rs. 10 Lakh Personal Loan or Rs. 5 Lakh Personal Loan pages for details.

Paisabazaar: Your Go-To Platform for Loans

Today, Paisabazaar is trusted by millions across India for simple, smart and fast credit access. Here’s why:

  • Multiple Loan Offers- All in One Place
  • A to Z Digital Process
  • Pre-Approved Offers
  • Competitive Interest Rates
  • 360 degree Support
  • Quick Approvals and Disbursals
  • Free Credit Score

 

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

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FAQs

Many lenders provide pre-approved or instant personal loan offers to eligible customers, especially those with a strong credit history. These loans are often disbursed within a few hours to 1-2 working days, making them ideal for urgent high-ticket needs.

You can apply for a Rs. 15 lakh loan through a bank, NBFC, or at Paisabazaar. At Paisabazaar, users can compare interest rates, loan features, and eligibility criteria from multiple lenders, helping them choose the most suitable option based on their credit score, income, and employment profile.

Most lenders require a minimum monthly salary of Rs. 15,000 per month for any personal loan scheme. For higher loan amounts, lenders may set higher minimum income eligibility criteria.

At an interest rate of 11.50% p.a., the EMI for a Rs. 15 lakh personal loan over 5 years (60 months) would be approximately Rs. 32,989 per month.

Most lenders require income proof (salary slips, ITR, or bank statements) to assess repayment capacity. However, some NBFCs may consider minimum or no documentation on pre-approved offers.

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What our customers say

Compare karke sahi rate mila

Loan offers jab comapre kiya toh pata chala konse loan lene se muhje sahi mai faida hoga. Isiliye Paisabazaar muhje best laga.

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Akrity PandeyJan 5, 2026

Personal loan fatfat mai mil gaya

Muhje paiso ki urgent need thi. Paisabazaar se loan jaldi or sahi rate pe mil gaya.

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Riya MehraJan 5, 2026

Loan from Paisabazaar was actually paperless

I always used to think that the paperless loan is a myth. But on Paisabazaar, I applied for the pre approved loan from IDFC Bank and all documentation was already done. I just filled the form, did kyc and my loan was approved and disbuursed one the same day.

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Tanmay BorkatakiDec 12, 2025

Best place for a small loan

I have take loan of 60-70000 three times from paisabazaar in 4 years and every time it has been a very good experience. They provide the loan without failure and have also helped me improve my cibil.

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Aridaman Singh ParhichaDec 11, 2025

My loan got approved immediately

I wanted a loan and I was able to get it approved through Paisabazaar. It was instantaneous and I got the amount in my account in 2 days only.

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Priyam Sarkar MajumdarDec 10, 2025

I get loan from here

I get loan from Paisabazaar here and it is very quickly given to me.

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Bilal ZaidiDec 9, 2025

Excellant EMI calculator and expert assistance available

The EMI calculator helped me choose the right repayment plan. Clear guidance at every step made the loan process really easy.

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Mohit YadavDec 3, 2025

Fully Digital Process for Real.

Loved the real-time loan status updates.Everything was handled online — didn’t have to visit any branch.

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Gautam BakshiDec 3, 2025

Lower Rate than My Own Bank

Got a lower interest rate than my bank was offering.Smooth digital verification and quick disbursal.

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Shivani SuryaDec 3, 2025

Pre-approved offers with quick approval

I liked how Paisabazaar showed pre-approved offers without affecting my credit score. Customer support was prompt and helped me close the loan quickly.

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Suraj VermaDec 3, 2025
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