Bank of India Personal Loan for lawyers

Bank of India lawyers' personal loan is an exclusive credit option. As the name suggests, these loans are designed to provide flexible, accessible funding solutions to help lawyers manage personal and professional expenses. These may include office setup and renovations, personal emergencies, or educational pursuits. Notably, this loan caters to established and early-career lawyers, offering financial support to meet immediate needs or invest in long-term goals. Learn more about the Bank of India lawyer’s instant loan in the detailed overview explained below.

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Table of Content

1. Bank of India Personal Loan for Lawyers Highlights

2. Eligibility Criteria for Lawyers Personal Loan

3. Required Documentation for Lawyers Personal Loan

4. The Fees for Bank of India Personal Loans for Lawyers

5. How to Apply for a Lawyers Personal Loan?

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

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.

Bank of India Personal Loan for Lawyers – Highlights

Following are the Bank of India lawyers’ personal loan interest rates and other key parameters:

Interest Rates	11.85% p.a. onwards
Loan Amount	Up to ₹25 Lakh
Loan Tenure	84 months
Eligibility	Applicants must be below 70 years

Eligibility Criteria for Lawyers’ Personal Loan

Bank of India lawyers’ personal loan eligibility requirements are as follows:

Age Limit: The applicants must be between 18 and 70 years old.
Income Requirement: The applicants must have a stable source of income.
Credit Score: The applicants must have a good credit score, preferably 700 or above.
Residency: The applicants must be an Indian resident.

Required Documentation for Lawyers’ Personal Loan

Bank of India lawyers’ personal loan document requirements are as follows:

Proof of Identity: PAN card, election ID, passport, or driving license.
Proof of Residence: Aadhaar card, electricity bill, telephone bill, or piped gas bill.
Proof of Income: Last 3 years ITR, Profit & Loss Account, Balance Sheet, and Capital Account Statement.

The Fees for Bank of India Personal Loans for Lawyers

Following are the fees of the Bank of India Lawyers instant loan online:

Fee/Charge	Amount
Processing Fee	2% of the loan amount
Prepayment Charges	Nil
Late Payment Charges	Applicable

How to Apply for a Lawyer’s Personal Loan?

To apply for the Bank of India lawyers’ personal loans, you need to follow the steps given below:

Navigate to the Urban Money website.
Select the “Loan” option and then the “Personal Loan” category.
You will be taken to a page titled “Personal Loan.”
Locate the “Bank of India” section and click the “Apply Now” button.
This will prompt a brief online form to appear on your display.
Input your name, mobile number, and city in the form.
Shortly, a 6-digit OTP will be sent to your phone.
Input this OTP and click the “Submit” button.
Following your submission, a loan specialist from our team will contact you soon.

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Frequently Asked Question (FAQs)

What is the maximum loan amount available for a lawyer's personal loan?

₹25 lakh is the maximum loan amount available for a Bank of India Lawyers Personal Loan.

Is there a guarantee required for a Bank of India Lawyers Personal Loan?

No guarantee is required for a Bank of India Lawyers Personal Loan.

Can I apply for a Bank of India Lawyers Personal Loan online?

Yes, you can apply for a Bank of India Lawyers Personal Loan online through the Urban Money website. Additionally, Urban Money helps you check your eligibility, required documents, and expected EMI, enabling you to make more informed decisions.