Looking to finance your dream home and require additional funds of Rs. 15 lakh? A home loan could be the perfect solution to bridge the gap. Understanding your EMI is crucial for planning your budget effectively. A Rs. 15 lakh home loan EMI depends on factors like the interest rate, tenure, and repayment capacity. Shorter tenures mean higher EMIs but lower interest costs, while longer tenures offer smaller monthly payments. Use a home loan EMI calculator to estimate your EMI and choose the right repayment plan for a stress-free home-buying experience.
Features and benefits
Applicants interested in availing a housing loan up to Rs. 15 lakh can read below points to know about the features of the Bajaj Finserv Home Loan.
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PMAY benefits
Get a subsidy of up to 6.50%* on your home loan interest with PMAY.
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Balance transfer facility
Transfer the home loan to us with minimal documentation and faster processing.
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High-value top-up loan
Meet your financial needs with a sizable top-up loan, offered at a nominal rate of interest.
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Comfortable tenor
Choose a convenient timeline of up to 32 years and repay your home loan with ease.
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Property dossier facility
Get guidance on all the legal and financial aspects of owning your property with a personalised report.
Home loan up to Rs. 15 lakh details
The Bajaj Finserv Home Loan grants easy access to a sanction of up to Rs. 15 lakh and more. It also offers a range of value-added features such as property search services and a top-up loan facility. Here you can also secure financing at competitive rates of interest and for a flexible tenor, ranging up to 32 years. Combined, these features keep your EMIs pocket-friendly.
15 lakh home loan EMI with varying tenures
What’s more, it also comes with online tools such as the home loan EMI calculator. This can play a pivotal role in loan planning and can even help ensure that repayment stays comfortable for you all through. For more insight on this, look at the following examples with tables.
Here are the EMI calculations for a home loan of Rs. 15 lakh with different tenors and a fixed interest rate of 8.50%* p.a..
Rs. 15 lakh home loan EMI for 30 years
Loan Amount |
Rs. 15,00,000 |
Rate of Interest |
8.50%* p.a. |
EMI |
Rs. 11,534 |
Total Interest |
Rs. 26,52,133 |
Total Amount Payable |
Rs. 41,52,133 |
Rs. 15 lakh home loan EMI for 25 years
Loan Amount |
Rs. 15,00,000 |
Rate of Interest |
8.50%* p.a. |
EMI |
Rs. 12,078 |
Total Interest |
Rs. 21,23,522 |
Total Amount Payable |
Rs. 36,23,522 |
Rs. 15 lakh home loan EMI for 20 years
| Loan Amount | Rs. 15,00,000 |
| Rate of Interest | 8.50%* p.a. |
| EMI | Rs. 13,017 |
| Total Interest | Rs. 16,24,164 |
| Total Amount Payable | Rs. 31,24,164 |
Rs. 15 lakh home loan EMI for 15 years
| Loan Amount | Rs. 15,00,000 |
| Rate of Interest | 8.50%* p.a. |
| EMI | Rs. 14,771 |
| Total Interest | Rs. 11,58,797 |
| Total Amount Payable | Rs. 26,58,797 |
Rs. 15 lakh home loan EMI for 10 years
| Loan Amount | Rs. 15,00,000 |
| Rate of Interest | 8.50%* p.a. |
| EMI | Rs. 18,598 |
| Total Interest | Rs. 7,31,732 |
| Total Amount Payable | Rs. 22,31,742 |
Rs. 15 lakh home loan EMI for 5 years
Loan Amount |
Rs. 15,00,000 |
Rate of Interest |
8.50%* p.a. |
EMI |
Rs. 30,775 |
Total Interest |
Rs. 3,46,488 |
Total Amount Payable |
Rs. 18,46,488 |
Home loan EMI with other loan amount
Rs. 15 Lakh Home Loan EMI Eligibility Criteria
The eligibility criteria for a home loan with Bajaj Finserv are simple and easy to meet. Check out the detailed housing loan eligibility criteria to ensure you qualify.
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Nationality
Indian
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Age
23 years to 65 years for salaried individuals, 23 years to 70 years for self-employed borrowers
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Employment status
At least 3 years of experience for salaried applicants, at least 5 years of business continuity for self-employed borrowers
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CIBIL score
Check your CIBIL Score for FREE725 or higher
*Please note that the list of eligibility mentioned is indicative. Terms and conditions apply.
*Conditions apply
How to apply for Rs. 15 lakh home loan
Step-by-step guide to applying for a home loan
- 1 Click on the 'APPLY' button on this page
- 2 Enter your full name, mobile number, and employment type
- 3 Now select the type of loan you wish to apply for
- 4 Generate and submit your OTP to verify your phone number
- 5 Upon OTP verification, enter additional details like your monthly income, required loan amount, and if you have identified the property
- 6 In the next steps, enter your date of birth, PAN number and other details as requested depending on your selected occupation type
- 7 Click on the ‘SUBMIT’ button
That is it! Your application is submitted. Our representative will connect with you and guide you through the next steps.
Additional Read: Documents required for home loan
Frequently asked questions
Yes, you can prepay a Rs. 15 lakh home loan EMI before the tenure ends. Most lenders allow partial or full prepayment, which can reduce the loan tenure or interest burden. However, check for any prepayment charges or conditions specified by your lender before proceeding.
If you miss an EMI payment for a Rs. 15 lakh home loan, the lender may charge a late payment penalty. Repeated delays can negatively impact your credit score and lead to legal action. Communicate with your lender immediately to explore solutions if you're unable to pay.
Not always. Home loans can have fixed or floating interest rates. A fixed rate remains constant throughout the tenure, while a floating rate may vary based on market conditions. Confirm the type of interest rate with your lender before opting for a Rs. 15 lakh home loan.
A shorter tenure for a Rs. 15 lakh home loan reduces the total interest paid, saving money in the long run. While the EMI is higher, the loan is repaid faster, helping you become debt-free sooner and improving your financial flexibility.
