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How to Get a Personal Loan for ₹15 Lakh

Need a ₹15 lakh personal loan for a major financial requirement? Whether it’s for a home renovation, business expansion, wedding, or medical emergency, a personal loan offers a quick and hassle-free solution. With an easy online application process, you can secure a ₹15 lakh personal loan with flexible repayment options and competitive interest rates. At Aditya Birla Capital, we ensure a smooth borrowing experience with minimal documentation and instant processing. Here’s everything you need to know to apply for a ₹15 lakh personal loan.

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Key Benefits of a ₹15 Lakh Personal Loan

Quick and Easy Approval

Apply online and get approval for a ₹15 lakh personal loan within minutes.

Fast Disbursal of Funds

Once approved, the loan amount is credited directly to your bank account within 24 to 48 hours.

No Collateral Required

A ₹15 lakh personal loan is unsecured, meaning no need to pledge any assets.

Flexible Repayment Options

Choose from repayment tenures ranging from 12 to 60 months to suit your financial situation.

Competitive Interest Rates

Enjoy attractive interest rates, making your EMI payments manageable.

Transparent Loan Process

No hidden charges just a straightforward, secure loan application process.

Facility to Add a Co-Applicant

Adding a co-applicant to the ₹15 lakh personal loan can improve your eligibility. It may also help you qualify for a higher loan amount based on combined income.

Reasons To Get a Personal Loan of ₹15 Lakhs from Aditya Birla Capital

Collateral-free

There is no need to pledge any asset to secure a Personal Loan of ₹15 Lakhs. The funds are sanctioned based on your eligibility parameters—that’s all!

Flexible Repayment Period

Choose a repayment tenure of 84 months to ensure affordable EMIs for easy repayments. This makes the ₹15 Lakhs Personal Loan pocket-friendly.

Predictable EMIs

With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments

Quick Sanctions

Get the funds transferred to your account within 24 hours of applying for the loan.

Facility to add a co-applicant

Adding a co-applicant to the ₹15 Lakhs Personal Loan can increase your eligibility. You can also get a higher loan amount to meet different needs.

Interest Rates Available for
Personal Loans of ₹15 Lakhs

Find out the interest payable on the Personal Loan of ₹15 Lakhs to plan your repayments effectively.

image Loans up to 12 months
Loan Type Interest
The Short Term Reference Rate (STRR) 19.45% p.a. w.e.f.from March 1, 2024
image Loans more than 12 months
Loan Type Interest
The Long Term Reference Rate (LTRR) 20.45% p.a. w.e.f. from March 1, 2024

Who Can Apply For a Personal Loan of ₹15 Lakhs?

Find out if you are eligible to apply for a ₹15 Lakhs Personal Loan

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Salaried

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Self-employed Professional

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Self-employed Non - Professional

Steps to Apply for a ₹15 Lakh Personal Loan Online

1step

Visit the Aditya Birla Capital Website or App

Access the official website or download the Aditya Birla Capital app to begin your application.

2step

Check Your Loan Eligibility

Use our online loan calculator to determine your eligibility for a ₹15 lakh personal loan and estimate your EMI.

3step

Submit the Online Loan Application

Fill out the application form with your personal details, employment information, and loan requirements.

4step

Upload the Necessary Documents

Submit scanned copies of identity proof, income proof, and bank statements for verification.

5step

Loan Processing and Approval

After verification, your ₹15 lakh personal loan application will be reviewed and approved if all criteria are met.

6step

Receive Your Funds

Once approved, the loan amount will be credited to your bank account within 24 to 48 hours.

Eligibility Criteria for Personal Loans of ₹15 Lakhs

Are you eligible for a ₹15 Lakhs Personal Loan? Check whether you meet the criteria.

Documents Needed

  • Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
  • Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
  • Bank statement where income is credited Last 6 months
  • Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16


Disclaimer - All loans will be at the sole discretion of ABFL.

Eligibility criteria

Nationality
Minimum age
Maximum age
Credit Score
Employment
Indian citizen
21 years
60 years*
750+
Salaried

* A higher age limit is applicable at the time of loan maturity.

Note - This is an indicative list that may change based on your actual loan application.

Fees and Charges for Personal Loans of ₹15 Lakhs

Charge Type Amount
Cheque Return charges ₹500 + GST per instance
Default Penal charges 3% of the pending amount per month
Charges for cancellation of Loan 4% of loan amount disbursed + applicable taxes
CIBIL report retrieval fees ₹100 + GST per instance
Charge for Exchanging PDCs / ECS ₹750 + GST per instance
Loan reschedule charges ₹5000 + GST per instance
Stamp Duty As per Actual if applicable
Insurance Premium As per Actual, if applicable
Pre-closure Quote ₹1000 + GST per instance
Any other charges As per Actual, if applicable
Part - Pre-Payment Charges Charges:

A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year
B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed

Conditions:

A) No pre-payment is allowed in the first 6 months from the date of disbursement
B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs.
C) Part-prepayment is allowed only once in the first year of loan tenure.
Foreclosure Charges 4% of the Principal outstanding amount + GST

Condition:

Foreclosure is allowed only after 12 months from the date of loan disbursal.

ABC Of Calculators

PERSONAL LOAN AMOUNT
Tenure (1 to 30 Years)
Rate of Interest (7 to 11%)
I CAN PAY EMI OF
Tenure (1 to 30 Years)
Rate of Interest (7 to 11%)

Your estimated EMI amount

0

Total Interest

0

Total Payout

0
CURRENT AGE
MONTHLY INCOME
YOUR CURRENT MONTHLY OBLIGATIONS

You are eligible for a loan of

0*
For a tenure of0 years

EMI @ 9% Interest Rate

0*

BALANCE TRANSFER LOAN

Transfer your existing loan to us for lower interest rates
  • Personal Loan
    Reduced Interest Rates.
  • Personal Loan
    Lower Monthly Payments.
sns

TOP UP LOAN

Secure additional funds at exceptional interest rates
  • Life Insurance
    Easy application process
  • Life Insurance
    Borrow up to 80% of property value
sns

Different financial needs, different loans,
one app - ABCD

For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.

  • Life Insurance
    Range of loan options for different needs 
  • Life Insurance
    Quick sanctions and disbursals

Scan the QR code to download our Mobile App

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Customer Satisfaction Stories

Hear from our happy customers what they have to say about their experience with us.

Hear What The Experts Have To Say
Hear What The Experts Have To Say
Mr. Hiralkumar Ashokbhai Patel

Aditya Birla Finance Customer

1 Jan 1
Hear What The Experts Have To Say

Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.

Hear What The Experts Have To Say
Mr. B. Narsimulu

Aditya Birla Housing Finance Customer

Hyderabad, India

Hear What The Experts Have To Say
Hear What The Experts Have To Say
Mr. Pramod Kumar Saini

Aditya Birla Finance Customer

1 Jan 1
Hear What The Experts Have To Say

I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.

Hear What The Experts Have To Say
Mr. Vikram Balu Gavali

Aditya Birla Housing Finance Customer

Belapur, India

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FAQs on Personal Loans of ₹15 Lakhs

You can apply for a Personal Loan of ₹15 Lakhs offline through Aditya Birla Capital’s branches. Locate the nearest branch, visit it and apply for the loan offline. You must complete an application form and submit the relevant documents to apply for the loan.

Aditya Birla Capital processes and disburses the loan within hours. So, you can get immediate funding for your needs through the company’s ₹15 Lakhs Personal Loan.

The maximum repayment tenure of a ₹15 Lakhs Personal Loan is 84 months.

To secure a higher loan amount, here are some tips -

• Have a good credit score
• If you have existing liabilities, pay them off before applying for them
• Add a co-applicant to your loan application

You can take a Personal Loan of ₹15 Lakhs to buy a car.

Adding a co-applicant to the loan enhances your overall eligibility. If you have a low credit score, you can become eligible for the loan if your co-applicant has a high score. Moreover, you can get a higher loan amount.

The EMI is calculated based on the loan amount, repayment tenure and the applicable interest rate. You can use the online EMI calculator to find the EMI payable for the ₹15 Lakhs Personal Loan.

The maximum loan amount will depend on your eligibility parameters. You can use the online eligibility calculator to find the maximum loan amount available.

You can make a lump sum payment to reduce your outstanding liability. This is called partial prepayment, and it is allowed after the first six months of loan disbursement.

The minimum age to apply for a Personal Loan of ₹15 Lakhs is 21. You cannot apply for a loan at 18.

Your credit score determines whether your loan application will be approved or not. Moreover, it affects the interest rate and the maximum loan amount you can get.

A ₹15 Lakhs Personal Loan is a multipurpose loan which can be used for any financial need. You can pay for a wedding, vacation, medical treatments, home renovation, buying gadgets or appliances or meet the expenses of your business with the loan.