Union Bank Personal Loan for Lawyers

Union Bank lawyers' personal loan is a quick and hassle-free credit option. As it is categorised as a multipurpose loan, you can use it for personal or professional needs. Moreover, the bank is ready to disburse the loan amount without demanding you pledge any of your assets as collateral, further enriching the overall appeal of this remarkable personal finance. To learn the applicable interest rates, eligibility criteria, required documentation, associated fees, and more, continue to scroll down. We present a detailed overview of a Union Bank lawyers' instant loan. Let’s dive in.

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Table of Content

1. Union Bank Personal Loan For Lawyers Highlights

2. Compare Union Bank Lawyers Personal Loans With Other Banks

3. Union Bank Personal Loan For Lawyers Fees and Charges

4. Union Bank Personal Loan For Lawyers Documents Required

5. Union Bank Personal Loan For Lawyers Eligibility Criteria

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Union Bank Personal Loan For Lawyers – Highlights

Following are the Union Bank lawyers’ personal loan interest and other key parameters:

Interest Rates	11.75% to 13.00% per annum
Loan Amount	Up to ₹20 Lakh
Loan Tenure	60 months
Eligibility	Lawyers with an annual income of ₹12 Lakh or above.

Compare Union Bank Lawyers’ Personal Loans With Other Banks

Let’s examine the comparison of the Union Bank lawyers’ personal loans with other banks and NBFCs in India:

Bank/NBFC	Interest Rate	Processing Fee	Loan Amount	Tenure
Union Bank	11.75% p.a. onwards	0.50% of the loan amount	Up to ₹20 lakhs	1 – 5 years
ICICI Bank	10.50% p.a. onwards	Up to 2.50% of the loan amount	Up to ₹50 lakhs	1 – 7 years
HDFC Bank	11.01% p.a. onwards	Up to 2.00% of the loan amount	Up to ₹50 lakhs	1 – 5 years
Kotak Mahindra Bank	10.99% p.a. onwards	Up to 2.5% of the loan amount	Up to ₹15 lakhs	1 – 6 years
Fullerton India	11.99% p.a. onwards	Up to 6% of the loan amount	Up to ₹25 lakhs	1 – 5 years
Bajaj Finserv	11% p.a. onwards	Up to 3.93% of the loan amount	Up to ₹55 lakhs	1 – 8 years

Union Bank Personal Loan For Lawyers – Fees and Charges

Following are the charges of the Union Bank lawyers’ personal loan online:

Fee/Charge	Amount
Processing Fee	0.50% of the loan amount
Prepayment Charges	Nil
Late Payment Charges	2% per annum, over the applicable interest rates, on the overdue amount

Union Bank Personal Loan For Lawyers – Documents Required

Following is the list of Union Bank lawyers’ personal loan document requirements:

Identity Proof: PAN card, Voter ID, Passport, Aadhaar card, etc.
Residency Proof: Driving license, Passport, Aadhaar card, Utility Bill, etc.
Office/Business Address Proof: If you have your practice or business.
Income Proof: The last two years’ ITR/Form 16 and the latest three months’ salary slip (if you are a salaried individual).

Union Bank Personal Loan For Lawyers – Eligibility Criteria

Following is the list of Union Bank lawyers’ Personal loan eligibility requirements:

Age Limit: You must be between 18 and 25 years of age.
Professional Status: You must be a practising lawyer with a stable source of income.
Income Requirement: Applicant must have a minimum income of ₹12 Lakh per annum.
Credit Score: You must have a good credit score, preferably 700 or above.
Residency: You must be an Indian resident.