Table of Contents
Quality Service Guarantee Or Painting Free
Get a rental agreement with doorstep delivery
Find the BEST deals and get unbelievable DISCOUNTS directly from builders!
5-Star rated painters, premium paints and services at the BEST PRICES!
Loved what you read? Share it with others!
Submit the Form to Unlock the Best Deals Today
✕
Check Your Eligibility Instantly
Experience The NoBrokerHood Difference!
Set up a demo for the entire community
Tenant Super Relax Plan
Enjoy Hassle-Free Renting
Full RM + FRM support Instant alerts & premium filters Rent negotiation & relocation helpSubmit the Form to Unlock the Best Deals Today
1.5 Lakh Personal Loan EMI: Monthly Payment, Calculation and Interest in 2025
Published : October 28, 2025, 12:07 AM
Updated : October 28, 2025, 12:08 AM
Author :
kruthi
Table of Contents
A ₹1.5 lakh personal loan is one of the most practical and flexible financial solutions for managing short-term expenses or emergencies. Whether you’re covering medical bills, planning a vacation, paying rent deposits, or purchasing home essentials, this amount provides quick financial relief without heavy long-term commitments. The 1.5 lakh personal loan EMI depends on factors such as interest rate, repayment tenure, and the lender’s policy.
₹1.5 Lakh Personal Loan Summary- Quick Info
This table offers a bird's-eye view of what to expect when you begin your journey to secure a 1.5 lakh loan. [1][2][3][4][5][6][7][8][9]
| Feature | Approximate Details |
|---|---|
| Loan Amount | ₹1,50,000 |
| Average Interest Rate | 12% to 25% per annum |
| Tenure | 12 to 60 months (1 to 5 years) |
| Lowest EMI (approx.) | ₹3,337 (for a 5-year tenure at 12% p.a.) |
| Total Interest (avg.) | Varies significantly based on the chosen rate and tenure |
| Processing Fee | Up to 3.5% of the loan amount + GST |
| Prepayment Charges | 2% to 5% on the outstanding principal balance |
What is a ₹1.5 Lakh Personal Loan EMI?
EMI is the fixed, consistent amount you are required to pay to the lender each month until your entire loan of ₹1.5 lakh, along with all the accrued interest, is fully repaid. This system of fixed payments allows you to break down a significant financial obligation into smaller, predictable payments over a fixed period, known as the loan tenure.
Quality Service Guarantee Or Painting Free
Get a rental agreement with doorstep delivery
Find the BEST deals and get unbelievable DISCOUNTS directly from builders!
5-Star rated painters, premium paints and services at the BEST PRICES!
₹1.5 Lakh Personal Loan EMI for Different Tenures
Choosing a longer tenure will lower your EMI, making the monthly payments more affordable, but it also means you will pay more in total interest. Conversely, a shorter tenure results in a higher EMI but saves you a considerable amount in interest costs over the loan's lifetime. [1]
| Tenure | Interest Rate (p.a.) | Approx. EMI (₹) | Total Interest (₹) | Total Payment (₹) |
|---|---|---|---|---|
| 1 Year (12 months) | 13% | ₹13,397 | ₹7,764 | ₹1,57,764 |
| 2 Years (24 months) | 13% | ₹7,127 | ₹15,048 | ₹1,65,048 |
| 3 Years (36 months) | 13% | ₹5,059 | ₹22,124 | ₹1,72,124 |
| 4 Years (48 months) | 13% | ₹4,019 | ₹28,912 | ₹1,78,912 |
| 5 Years (60 months) | 13% | ₹3,414 | ₹35,840 | ₹1,85,840 |
Note: Personal loans are typically unsecured, short-to-medium term credit. Therefore, tenures longer than 5 or 7 years are not commonly offered for amounts like a 1.5 lakh loan.
EMI Calculation Formula for ₹1.5 Lakh Personal Loan
While it is easiest to use a 1.5 lakh personal loan EMI calculator, understanding the formula behind it can demystify how your fixed monthly payment is determined. This mathematical equation ensures your payment remains consistent throughout the loan period. [1]
The standard formula is:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]
Where:
- P = Principal amount (₹1,50,000)
- R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- N = Tenure in months
₹1.5 Lakh Personal Loan EMI at Top Banks (2025)
The interest rate is the most critical variable affecting your EMI, and it can vary significantly between different lenders. Below is a comparative table of the approximate EMIs for a ₹1.5 lakh personal loan from India's leading financial institutions, calculated for a standard 3-year tenure.
| Bank/NBFC | Indicative Interest Rate (p.a.) | Tenure (in years) | Approx. EMI (₹) |
|---|---|---|---|
| State Bank of India (SBI) [2] | 10.05% onwards | 3 | ₹4,848 |
| HDFC Bank [3] | 9.99% onwards | 3 | ₹4,844 |
| ICICI Bank [4] | 10.60% onwards | 3 | ₹4,892 |
| Axis Bank [5] | 9.99% onwards | 3 | ₹4,844 |
| Kotak Mahindra Bank [6] | 9.98% onwards | 3 | ₹4,843 |
| Bajaj Finserv [7] | 16.00% onwards | 3 | ₹5,274 |
| Tata Capital [8] | 11.50% onwards | 3 | ₹4,954 |
Disclaimer: The interest rates mentioned are indicative starting points and are subject to change based on the lender's policies and the applicant's financial profile.
What is the Eligibility Criteria for ₹1.5 Lakh Personal Loan?
To qualify for a personal loan of ₹1.5 lakh, you must meet the lender's specific eligibility criteria, which are established to assess your repayment capability and overall financial health. [9]
- You must be between 21 and 60 years of age, an Indian citizen with at least 6 months of employment(either with an organisation or self-employed), and have a minimum monthly income (depending on the bank).
- A stable employment history, generally with at least one year of total work experience, is required to demonstrate financial stability.
- A strong credit score, ideally 750 or above, is crucial for loan approval and for securing a favourable interest rate.
What are the Documents Required for a ₹1.5 Lakh Personal Loan?
Having the correct documentation prepared in advance can significantly streamline the loan application and approval process, ensuring you receive the funds when you need them. [9]
- A government-issued document to verify your identity and address, such as your PAN Card, Aadhaar Card, Passport, Voter ID Card or utility bills/rental agreements.
- Your latest 3 to 6 months' salary slips, your bank statements and your most recent Form 16 document.
- Audited financial statements for the past two years, along with recent business bank statements and your official Income Tax Returns.
- One or two recent passport-sized photographs.
How to Apply for a ₹1.5 Lakh Personal Loan or Cash Loan Online via NoBroker Insta Cash
Digital platforms have made the loan application process simpler and more efficient than ever before, eliminating the need for lengthy paperwork and branch visits. You can apply for an instant ₹1.5 lakh cash loan online through NoBroker Insta Cash and benefit from quick approval, minimal documentation, and an instant transfer. [9]
- Step 1: Begin by visiting the NoBroker Insta Cash platform online. Enter your basic personal details to perform a quick eligibility check and receive an instant, pre-approved loan offer.
- Step 2: Once you receive your offer, you can select the precise loan amount you need and choose a repayment tenure that is most comfortable for your budget and financial goals.
- Step 3: Next, complete your Know Your Customer (KYC) verification digitally. You will need to upload basic documents like your PAN card and address proof through their secure online portal.
- Step 4: The final step is to provide your bank account details and set up the auto-debit facility. Once your application is approved, the loan amount is disbursed directly to your account.
Why Choose NoBroker Insta Cash Over Traditional Personal Loans?
When you are considering your borrowing options, NoBroker Insta Cash presents a modern, convenient, and fully digital alternative to the often complicated and slow processes of traditional bank loans. [9]
- 100% digital process
- Minimal documentation
- Instant approval
- Transparent EMI and interest
- Trusted by thousands of users
- High availability
Cash Loan vs Personal Loan: Key Differences
While the terms are often used interchangeably, it is important to understand the distinctions between a quick digital cash loan and a traditional personal loan. This table highlights the key differences to help you choose the right product for your specific needs.
| Feature | Cash Loan (NoBroker Insta Cash) | Personal Loan (Bank/NBFC) |
|---|---|---|
| Processing Time | Within minutes to 24 hours | 2–7 business days |
| Loan Amount | ₹10,000 – ₹1,50,000 | ₹50,000 – ₹40,00,000 |
| Tenure | Up to 24 months | 1–5 years |
| Documents Required | Basic KYC + income proof | Multiple docs & verification |
| Disbursal Mode | Instant to bank account | Post-verification |
| Eligibility | Salaried/self-employed | Primarily salaried |
| Purpose | Short-term needs, emergencies | Long-term financial planning |
| Best For | Urgent funds, quick access | Planned large expenses |
Get Instant ₹1.5 Lakh Cash Loan via NoBroker Insta Cash
In conclusion, the right choice between a digital cash loan and a traditional personal loan should be guided by your specific requirements, particularly the urgency and the amount of funds needed. For immediate financial needs up to ₹1.5 lakh, a digital service like NoBroker Insta Cash offers unparalleled speed, convenience, and transparency. By providing a fully online, hassle-free process from application to disbursal, it ensures that you receive the financial support you need without the delays and complexities often associated with traditional lending institutions. This makes it an ideal solution for modern borrowers.
Frequently Asked Questions
Ans: The EMI for a ₹1.5 lakh loan for 3 years, assuming an average interest rate of 13% p.a., would be approximately ₹5,059. The final EMI can be higher or lower depending on the specific rate offered by your lender.
Ans: Banks with the lowest starting interest rates, such as Kotak Mahindra Bank or HDFC Bank, will typically offer the lowest EMI. It is always best to compare current rates from multiple lenders before making a final decision.
Ans: While challenging, some modern lenders and fintech platforms may consider your application without a salary slip if you can provide strong alternative income proofs, such as bank statements, ITRs, or audited financial statements for your business.
AnsMissing an EMI payment will typically result in a late payment fee and additional penal interest charges. It is also reported to credit bureaus, which will negatively impact your credit score and affect your future borrowing capacity.
Ans: Most lenders provide access to an online portal or a mobile banking application. You can log in to your loan account to view your complete amortisation schedule, which details the principal and interest breakup for each payment.
Recommended Reading
Axis Bank Personal Loan Interest Rate: EMI, Eligibility, Steps to Apply & Processing Fees in 2025
September 18, 2025
14553+ views
Get an Instant ₹1,000 Personal Loan with Quick Approval
January 31, 2025
4864+ views
IDFC Personal Loan Interest Rate: Eligibility, Documents, Charges and Stepwise Procedure in 2025
September 18, 2025
4431+ views
How to Get a Personal Loan Without Income Proof in 2025: Easy Approval and Quick Disbursal
May 22, 2025
4206+ views
ICICI Personal Loan Interest Rate: Eligibility, Documents Charges & Loan Process in 2025
September 18, 2025
4091+ views
Loved what you read? Share it with others!
Most Viewed Articles
Low CIBIL Score Loan Apps List: Best Apps for Instant Loans with Bad Credit for 2025
May 20, 2025
240396+ views
7 Days Loan Apps List in India: Top 12 Loan Apps for Fast Short-Term Cash in 2025
March 17, 2025
135667+ views
Top 20 RBI Approved Loan Apps in India (2025): Trusted & Reliable Options
March 12, 2025
105583+ views
Top 15 Loan Apps in India: Fast Approval, Low Interest Rates (2025)
September 1, 2025
80144+ views
15 Trusted Small Loan App Without Income Proof in India (2025)
February 25, 2025
72529+ views
Author
Recent blogs in
How to Calculate Interest Rate on a Loan: Easy Formula for EMI Interest
December 5, 2025 by Krishnanunni H M
How NPS Vatsalya Scheme Works: Eligibility, Contributions and Child Benefits
December 5, 2025 by Ananth
Pm Mudra Loan Scheme in India: Updated Loan Amounts and Application Process 2025
December 4, 2025 by Priyanka Saha
Best Personal Loans in India: Interest Rates, Eligibility, Documents and Fast Approval
November 29, 2025 by Kruthi
10 Best Personal Loans In Hyderabad: Lowest Interest Rates and Fast Approval
November 24, 2025 by Siri Hegde K
Join the conversation!