₹15 Lakh Home Loan EMI

Getting a home loan of ₹15 Lakhs is a significant decision. By calculating the EMI for a home loan of ₹15 Lakhs, you are in a better position to find feasible terms and plan your finances accordingly.

Moreover, it is much easier to find a tenure that allows for a hassle-free repayment process. With an EMI calculator, you can compute the EMI for various loan terms conveniently and find an affordable option that suits your financial needs.

Considering that tenure is a factor that will affect your ₹15 Lakh home loan EMI amount, it helps to know the specifics. Here’s a table that shows how the EMI amount varies as per tenure.

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying. 

Here is the calculation of EMI for a home loan of ₹15 Lakhs for 10 years:

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

Check out this table for EMI payable for a home loan of ₹15 Lakhs for 20 years:

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

This table includes the calculation of EMI for a home loan of ₹15 Lakhs for 30 years:

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying. 

*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.

Here are some common criteria you may be required to fulfil to qualify for a home loan of ₹15 Lakhs:

• You should have Indian citizenship and be residing in India

• If salaried, your age should be within the range of 23 to 62 years

• If self-employed, your age should be within the range of 25 to 70 years 

• If salaried, you should have a minimum work experience of 3 years 

• If self-employed, your business must have a minimum vintage of 5 years

Ensure to have the following documents handy to speed up the application process:

• ID Proof: Any of the following

  • Driving licence

  • Aadhaar card

  • PAN card

  • Voter ID
    

• Residential Proof: Any of the following

  • Aadhaar card

  • Passport

  • Utility bills
    

• Income Proof:
  

  • For Self-employed Applicants:

    • Degree/qualification certificates for self-employed professionals 

    • Profit and loss statement of the last 3 years

    • ITR filings of the last 2 years

    • Business licence details

    • Latest balance sheet of the business, audited by a certified CA

    • TDS certificate

• For Salaried Applicants: 

  • Form 16

  • ITR filings of the last 2 years

  • Salary slips of the last 3 months 

These requirements may vary depending on the lender you choose. So, do reach out to your chosen lender and get a complete list of the criteria and documents required from the lender before applying.