RBL Bank Personal Loan for Lawyers

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Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

If you are a lawyer and need funds to meet your personal or professional needs, RBL Bank Lakh Personal Loan for Lawyers is a suitable option for you. This loan is designed to cater to the specific needs of lawyers, such as paying for legal fees, expanding your practice, buying office equipment, or taking a vacation. You can avail of this loan from RBL Bank without any collateral or guarantor and get instant approval and disbursal. You can also enjoy the benefits of low processing fees, minimal documentation, and flexible tenure ranging from 12 to 60 months. With RBL Bank Lakh Personal Loan for Lawyers, you can fulfill your dreams and aspirations without any trouble.

RBL Bank Personal Loan for Lawyers – Highlights

Following are the salient highlights of RBL Bank Personal Loan for Lawyers. 

Feature Description
Loan Amount Up to Rs. 20 lakh
Interest Rate Starting from 14% p.a.
Processing Fee Up to 2.5% of the loan amount
Tenure 12 to 60 months
Prepayment Charges 5% of the principal outstanding
Foreclosure Charges Nil after 12 EMIs
Part Payment Charges Nil up to 25% of the principal outstanding in a year

Compare RBL Bank Lawyers Loan from other Banks

Here is a detailed comparison of different banks offering Lawyers loans:

Bank Interest Rate Loan Amount Tenure
RBL Bank 14% – 23% p.a. Up to Rs. 20 lakh 12 to 60 months
HDFC Bank 10.75% – 21.30% p.a. Up to Rs. 40 lakh 12 to 60 months
ICICI Bank 11.25% – 22% p.a. Up to Rs. 40 lakh 12 to 60 months
Axis Bank 12% – 24% p.a. Up to Rs. 15 lakh 12 to 60 months
Bajaj Finserv 12.99% – 16% p.a. Up to Rs. 25 lakh 12 to 60 months

RBL Bank Personal Loan for Lawyers – Fees and Charges

Apart from the interest rate and processing fee, there are some other fees and charges that you may have to pay for an RBL Bank Lakh Personal Loan for Lawyers. These include:

  • Cheque bounce charges: Rs. 500 per instance
  • Penal interest: 2% per month on the overdue amount
  • Loan cancellation charges: Rs. 1000
  • Duplicate statement charges: Rs. 250 per instance
  • Duplicate NOC charges: Rs. 250 per instance
  • Swap charges: Rs. 500 per instance
  • GST and other taxes as applicable

RBL Bank Personal Loan for Lawyers – Documents Required 

You need to submit the following documents to apply for RBL Bank Lakh Personal Loan for Lawyers:

  • Identity proof
  • Address proof
  • Salary slips for the last 3 months, bank statements for the last 6 months, ITR for the last 2 years, etc.
  • Professional proof – Certificate of practice, bar council membership, etc.
  • Loan application form with passport-size photographs

RBL Bank Personal Loan for Lawyers – Eligibility Criteria

To be eligible for RBL Bank Lakh Personal Loan for Lawyers, you need to meet the following criteria:

  • You should be an Indian citizen and a resident of India
  • You should be a salaried or self-employed lawyer
  • You should be between 25 and 60 years of age
  • You should have a minimum net monthly income of Rs. 25,000
  • You should have a minimum work experience of 3 years and a minimum current employment of 1 year

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