Personal Loan of Rs. 15 Lakh

The interest rate for a Rs. 15 lakh personal loan starts at 10.50% 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.

Listed below are the common personal loan eligibility criteria.

Age: 18 to 60 years

Income:

• Salaried: Minimum net monthly income of Rs. 15,000 per month
• Self-Employed: Minimum annual income of Rs. 3 to 5 lakh

Work Stability: At least 1 year in current job for salaried and minimum 3 years of business vintage for self-employed

Credit Score: 750+ is usually preferred

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

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:-

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

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.

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