15 Lakh Home Loan EMI

There are many banks, non-banking financial companies (NBFCs) and other financial institutions that offer Rs. 15 lakh Home Loan at different interest rates. Following are the interest rates of top ten banks and NBFCs for a Home Loan of Rs. 15 lakh Home loan 

The EMI is Calculated for a Maximum tenure for different interest rates for Respective banks:

The EMI for Rs. 15 Lakhs home loan for 5 years tenure at an interest rate of 8.50% p.a. would be Rs. 30,666. The EMI of Rs. 15 Lakhs loan for 5 years varies from lender to lender based on the applicable interest rate and the borrower’s eligibility.

Following is the table of Rs. 15 Lakh Home Loan EMI for different interest rates for 5 years tenure:

The EMI for Rs. 15 Lakhs home loan for 10 years tenure at an interest rate of 8.50% p.a. would be Rs. 18,478. The EMI of Rs. 15 Lakhs loan for 10 years varies from lender to lender based on the applicable interest rate and the borrower’s eligibility.

Following is the table of Rs. 15 Lakh Home Loan EMI for different interest rates for 10 years tenure:

The Rs. 15 Lakh home loan EMI for a repayment tenure of 20 years and an 8.50% p.a. interest rate will be Rs. 12,875. 

The EMI amount may vary from lender to lender based on the interest rate offered and the borrower’s profile. 

Below is the table for different EMIs for Rs. 15 Lakhs loan at different interest rates for a tenure of 20 years :

EMI for a Rs. 15 Lakhs home loan will be Rs. 11,375 for 30 years tenure at an interest rate of 8.50% p.a. The EMI may fluctuate based on the lender’s policy, interest rate and the borrower’s eligibility. 

Below is the table of different 15 Lakh Home Loan EMIs at different interest rates for 30 years tenure:

You can easily calculate your Rs. 15 Lakh Home Loan EMI with an online Rs. 15 Lakh loan EMI calculator. Here’s how to use the tool:

Step 1: Open the Home Loan EMI Calculator, which is available online.

Step 2: Enter Rs. 15 Lakhs in the required loan amount field.

Step 3: Enter the rate of interest as applicable.

Step 4: Enter the required repayment tenure.

You get your Home Loan EMI and the entire amortization schedule in no time.

The following eligibility parameters must be matched to be eligible for a home loan of Rs. 15 Lakhs:

Eligibility for Salaried Applicants

• The applicant must be a resident of India.
• The applicant must be aged between 18 and 65 years.
• The applicant must have a work experience of a minimum of 3 years.
• The applicant should be earning an income of at least Rs. 25,000 per month.

Eligibility for Self-employed Applicants

• The applicant must be a resident of India.
• The applicant must be aged between 18 and 70 years.
• The applicant must have a business continuity of at least 3 years.
• The applicant should be earning at least Rs. 2,60,000 annually. 

You will need to procure the following documents to apply for a Rs. 15 Lakhs home loan:

• Duly filled in & signed home loan application 
• Recent passport-size photographs (coloured)
• Identity proof such as Aadhaar Card/ Passport/ Voter ID/ Driving License, etc.
• Address proof such as Aadhaar Card/ Passport/ Voter ID/ Driving License, etc.
• Age proof such as Birth Certificate/ Class 10th Certificate, etc.
• Bank statements of the last 6 months
• Recent Form 16/ Income Tax Return
• Balance Sheet and Profit & Loss Statement for the last 3 years certified by a CA for self-employed applicants
• Business profile of self-employed applicants
• Processing fee cheque

Once you find a Rs. 15 Lakhs home loan with the best home loan interest rate, follow the steps mentioned below to apply for a home loan of Rs. 15 Lakhs:

• Visit our website and click the ‘Home Loan’ tab under the ‘Loans’ section.
• Fill out the online application form by entering all the details.
• Enter the ‘OTP’ you received on your registered mobile number.
• Click on the ‘Submit’ button to view and compare the best home loan offer quotes.
• Home loan offers from our lending partners will be available on your screen as per the information entered.
• Select the preferred lender and apply online.
• Our home loan experts will contact you regarding the completion of your home loan process.