Documents required for a Rs. 15 lakh loan
Having your paperwork ready can speed up the approval process. Here’s what you will typically need:
- Identity proof: Aadhaar Card, PAN Card, Voter ID, Passport, or Driving License.
- Address proof: Utility bills, Aadhaar Card, Passport, or Driving License.
- Income proof: Salary slips (last 3 months), bank statements (last 6 months), or ITR returns (last 2 years for self-employed).
- Employment proof: Offer letter, employment certificate, or business registration papers.
- Loan-specific documents: For loans against investments mutual fund statements or shareholding proof.
How to apply for a Rs. 15 lakh loan?
Applying is straightforward. Just follow these steps:
- Compare loan options – Look at interest rates, repayment terms, and benefits.
- Check eligibility – Use an online calculator to see if you qualify.
- Choose a lender – Compare offers from banks and NBFCs.
- Prepare documents – Keep your KYC, income proof, and investment statements ready.
- Apply online or offline – Submit your form via the lender’s website or branch.
- Verification and approval – The lender reviews your application and verifies details.
- Loan disbursement – Once approved, funds are credited to your account quickly.
Apply today and get your Rs. 15 lakh loan in days sometimes hours. Get started
Interest rates for Rs. 15 lakh loans against investments
Interest rates on a Rs. 15 lakh loan against investments are generally lower than unsecured loans because the borrowing is backed by financial assets such as shares, mutual funds, or insurance policies. The exact rate depends on multiple factors linked to the investment type and borrower profile. Key points to understand:
- Type of investment pledged: Loans against shares and equity mutual funds usually carry slightly higher rates than loans against debt mutual funds or insurance policies, as market-linked assets are more volatile.
- Loan-to-value (LTV) ratio: Higher LTVs often attract marginally higher interest rates, as the lender’s risk increases.
- Market conditions: Interest rates may fluctuate based on broader interest rate cycles and capital market movements.
- Borrower profile: Credit score, repayment history, and existing relationship with the lender can influence the final rate offered.
- Usage flexibility: Despite lower rates, interest is typically charged only on the amount utilised, not on the entire sanctioned limit, making it cost-efficient.
Benefits of Rs. 15 lakh loans against investments
Loans against investments offer some big advantages over regular personal loans:
- Lower interest rates – You save more over the loan tenure.
- No strict income proof needed – In some cases, your investments are enough.
- Flexible tenure – Repay in 1 to 5 years based on your comfort.
- Quick approvals – Minimal paperwork and faster disbursals.
- Keep your investments – Assets stay in your name and continue earning returns.
- High loan-to-value (LTV) – Borrow up to 50–90% of your asset value.
EMI calculation for a Rs. 15 lakh loan
Before you commit, calculate your Equated Monthly Instalment (EMI) to understand the repayment amount. Most lenders provide an online EMI calculator where you can adjust the loan amount, interest rate, and tenure to find a repayment plan that fits your budget.
Know your EMI in minutes and plan your repayments with confidence using our loan against securities calculator.
Tips to improve your chances of approval
- Maintain a good repayment history and credit score.
- Keep your investment documents updated and easy to access.
- Choose a shorter tenure if you can manage higher EMIs — it saves interest.
- Avoid multiple loan applications at the same time, as they may affect your profile.
Common mistakes to avoid when applying for a Rs. 15 lakh loan
Applying for a Rs. 15 lakh loan can be straightforward, but small oversights may lead to higher costs or delayed approval. Being aware of common mistakes helps you secure better terms and avoid unnecessary stress. Here are the key mistakes to watch out for:
- Ignoring loan purpose clarity: Not defining how the funds will be used can result in choosing the wrong loan type, leading to higher interest or restrictive terms.
- Overlooking total loan cost: Focusing only on the interest rate while ignoring processing fees, renewal charges, or penal interest can increase the overall borrowing cost.
- Borrowing beyond repayment capacity: Taking a higher loan amount without assessing EMI affordability may strain monthly finances and impact your credit profile.
- Not comparing loan options: Applying without comparing secured and unsecured loan variants can mean missing out on lower interest rates and flexible repayment structures.
- Incomplete documentation: Errors or delays in submitting income or investment-related documents can slow down approval or lead to rejection.
- Ignoring market-linked risks: For loans against investments, not accounting for market fluctuations may result in margin calls or reduced available limits.
Avoiding these mistakes ensures a smoother application process, better loan terms, and a more comfortable repayment experience over the loan tenure.
If your requirement for a loan is lower, you can consider Rs. 4 lakh loan.
Conclusion
A Rs. 15 lakh loan can be a smart way to meet big expenses without selling your assets. By choosing the right loan type whether it’s ESOP financing, loan against, insurance, mutual funds, or shares, you can enjoy lower interest rates, flexible repayment terms, and quick processing. Compare your options, check your eligibility, and keep your documents ready to make the process smooth. With the right approach, you can get the funds you need while keeping your investments intact.
Your investments can unlock the funds you need without losing their growth potential. Apply now
