Rs. 15 Lakh Loan

Get a Rs. 15 Lakh loan using ESOPs, bonds, mutual funds, shares, or insurance with an easy process, attractive interest rates, and flexible repayment plans.
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3 mins read
17-April-2025
A Rs. 15 lakh loan can help finance urgent expenses like medical bills, home renovations, business expansion, or higher education. In India, borrowers can get a loan through various options, including ESOP financing, loan against investments, and secured loans.

Choosing the right loan depends on factors like interest rates, repayment tenure, and eligibility criteria. This guide provides a detailed overview of how to get a Rs. 15 lakh loan, eligibility requirements, required documents, EMI calculations, and key benefits.

6 ways to get Rs. 15 lakh loans

The table below provides an overview of different loan options, interest rates, tenure, and application links.

Loan productInterest rateLoan tenureDetails and application link
ESOP Financingup to 15% p.a.Up to 36 monthsLearn more and apply for ESOP Financing
Loan Against BondsUp to20% per annumUp to 36 monthsLearn more and apply for Loan Against Bonds
Loan Against Insurance PolicyUp to 24% p.a.(In case of lock-in policies, compounding interest will be chargedIn case of lock-in free policies, simple interest will be charged)Up to 96 monthsLearn more and apply for Loan Against Insurance Policy
Loan Against Mutual Funds8-15% per annumUp to 36 monthsLearn more and apply for Loan Against Mutual Funds
Loan Against Shares8-15% per annumUp to 36 monthsLearn more and apply for Loan Against Shares


Eligibility criteria for a Rs. 15 lakh loan

To qualify for a Rs. 15 lakh loan, applicants must meet specific eligibility criteria.

  • Age: 18 to 65 years
  • Income: Stable income source from salary, business, or investments
  • Employment status: Salaried or self-employed professionals/business owners
  • Asset ownership: Existing investments in bonds, shares, or insurance
Lenders may have additional criteria depending on the loan type and security offered. This is based on Bajaj Finance loan against securities.

Documents Required for Rs. 15 Lakh Loan

Borrowers need to submit essential documents to get loan approval.

Official Valid Documents (OVDs) for KYC:

  • Identity proof: Aadhaar Card, PAN Card, Voter ID, Passport, Driving license.
  • Address proof: Utility bills, Aadhaar card, Passport, Driving license
Other documents:

  • Income proof: Salary slips (last 3 months), bank statements (last 6 months), ITR returns (last 2 years for self-employed).
  • Employment proof: Offer letter, employment certificate, or business registration documents.
  • Loan-specific documents: Mutual fund statements, or shareholding proof (for loans against investments).

How to apply for a Rs. 15 lakh loan

Follow these step-by-step instructions to apply for a Rs. 15 lakh loan:

  1. Compare loan options: Research loan types based on interest rates, tenure, and eligibility.
  2. Check eligibility: Use an online eligibility calculator to determine qualification.
  3. Choose a lender: Compare banks and NBFCs offering the loan.
  4. Prepare documents: Keep all necessary documents ready.
  5. Apply online or offline: Fill out an application form via a lender’s website or visit a branch.
  6. Verification and approval: The lender verifies documents and assesses creditworthiness.
  7. Loan disbursement: Upon approval, the loan amount is credited to the borrower’s account.

Benefits of Rs. 15 lakh loans against investments

Loans against investments offer several advantages, making them a preferred choice.

  • Lower interest rates: Compared to unsecured personal loans, secured loans against bonds, or shares have lower interest rates.
  • No income proof required: Some loans against investments do not require a minimum salary or income proof.
  • Flexible tenure: Borrowers can repay over a period of 12 months to 5 years, based on financial stability.
  • Quick processing: Loan approvals are faster when backed by investments, reducing paperwork.
  • Retain investment ownership: Assets like shares, mutual funds, and bonds remain in the borrower’s name, continuing to generate returns.
  • Loan to value (LTV): Lenders offer 50% to 90% of the investment’s value as a loan, ensuring substantial borrowing capacity.

Conclusion

A Rs. 15 lakh loan can be obtained through ESOP financing, loans against bonds, insurance, mutual funds, or shares. By choosing the right loan option, borrowers can benefit from lower interest rates, flexible repayment tenures, and minimal documentation.

Before applying, compare loan products, check eligibility, and calculate EMIs to ensure an informed decision. Loans secured against investments provide a cost-effective borrowing option while preserving asset ownership.

Explore Loan Against securities by Bajaj Finance Limited.

Frequently asked questions

How to get a 15 Lakh Loan immediately?
To get a Rs. 15 lakh loan instantly, choose a lender offering quick approval, like loans against mutual funds, or shares. Ensure you meet the eligibility criteria, submit required documents online, and opt for digital verification for faster processing.

What is the minimum salary for a 15 Lakh loan?
There is no minimum salary requirement to avail of a Rs. 15 lakh loan against your investments. Instead, your eligibility depends on the value and type of securities you pledge such as shares, mutual funds, or insurance policies—approved by your lender. As long as your pledged investments meet the lender’s criteria, you can access funds without income-based restrictions.

What is the interest rate for a 15 Lakh Loan per month?
Interest rates for a Rs. 15 lakh loan may vary, depending on the lender and applicant profile. Monthly interest is calculated based on the annual rate, loan tenure, and repayment type. Secured loans offer lower rates than unsecured personal loans.

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