Canara Bank Personal Loan for Lawyers

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Thejus KS
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A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.
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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.

Canara Bank offers personal loans to lawyers to help them fulfil their financial needs. The Canara Bank Lawyers Personal loan can be used for various personal or professional expenses. The Canara Bank Lawyers instant loan presents a convenient solution for lawyers who need financing to purchase equipment, fund their operations, or acquire business premises. In addition, lawyers can also utilise the loan for other purposes, such as funding business trips to attend seminars and conferences. With this loan, lawyers can efficiently manage their financial needs and focus on growing their practice. The loan amount can range from ₹10 lakhs to ₹5Crores, and the repayment tenure can be up to 10 years. The interest rates are competitive and affordable, making it easier for lawyers to repay the loan. 

Canara Bank Personal Loan for Lawyers – Highlights 

The Canara Bank Personal Loan for Lawyers is a good choice for anyone looking for a financial boost to fulfil their goals. Here are the highlights you need to know before applying for the Canara Bank Lawyers personal loan online.

Feature Description
Interest Rate Starting at 9.25%
Loan Amount ₹10 lakhs to ₹5 Crores
Tenure Up to 10 years
Any Hidden Charges No hidden charges

Comparing Canara Bank Doctor’s Loan with other Banks 

Other than Canara Bank, several more leading banks in India offer personal loans for lawyers and advocates. Here is a comparison of Canara Bank Lawyers Personal loan interest and some of the banks in India offering loans for lawyers.

Feature Canara Bank Bank of Baroda Karur Vysya Bank ICICI Bank HDFC Bank
Interest Rate Minimum  9.25% 9.55% MCLR + 3.35% Current RLLR + +6.0% 14.5%
Interest Rate Maximum 10.50% 15% MCLR + 3.35% Current RLLR + +7.10% 15.5%

Canara Bank Personal Loan for Lawyers – Fees and Charges 

Here are some of the fees and charges associated with the Canara Bank Lawyers Personal loan.

Type of Fee Applicable Charges
Upfront Fee
  • Upto Rs.5 lakhs: Nil
  • Above Rs.5 lakhs: 75% of normal charges
Processing Charges
  • Upto Rs.5 lakhs: Nil
  • Above Rs.5 lakhs: As per extant guidelines
Foreclosure Charges No charges on loans with floating interest rates.

Canara Bank Lakh Personal Loan for Lawyers – Documents Required

Here is a list of the Canara Bank Lawyers Personal Loan Documents necessary to apply for the loan.

  • Address and Identity proof of applicant.
  • Proof of collateral (only for secured loans).
  • License/permissions.
  • Financial papers for the last 3 years with ITR and projections.
  • Details of Guarantor (if any) with proof of assets.
  • Valuation report.

Canara Bank Personal Loan for Lawyers – Eligibility Criteria 

Lawyers can choose the Canara Bank Lawyers personal loan to apply for a loan specially designed to meet their needs. Here are the eligibility criteria to apply for the loan.

  • Professionals should have a minimum experience of 2 years in their respective profession.
  • Businesses/Professionals should have an existing clientele.
  • Applicant’s age must be 25 to 60 years.
  • The applicant should hold a valid certificate/license to practice their respective profession.
  • The applicant should be an assessee under Income Tax with a minimum Net Annual Income of Rs.2 lakhs per the latest available ITR.
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