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Lawyer Loan

No collateral | Loan up to Rs. 30 lakh | Tenure up to 96 months
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Features and benefits of Lawyer Loan
 
 
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What are the eligibility criteria for Lawyer Loan
 
 
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Trusted by 3 lakh+ customers

Lawyer Loan
No collateral | Loan up to Rs. 30 lakh | Tenure up to 96 months
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No collateral

You do not need any collateral or guarantor to get your loan.

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3 unique variants

Choose from our Flexi Hybrid, Flexi Term, and Term Loan variants.

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Minimal documentation

You only need 3 basic documents to get our lawyer loan: 1. KYC documents - Aadhar / passport / voter's ID / driving license / letter from NPR / NREGA job card 2. PAN card 3. Certificate of Practice and Degree Certificate You may be asked for a few additional documents during the course of the application process*.

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Disbursal in 48 hours*

Your bank account will be credited with your loan amount within 48 hours, or in some cases, on the same day of approval. *The 48-hour disbursal timeframe is an estimate and may vary depending on verification processes, application timing, and additional documentation.

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No collateral

You do not need any collateral or guarantor to get your loan.

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3 unique variants

Choose from our Flexi Hybrid, Flexi Term, and Term Loan variants.

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Minimal documentation

You only need 3 basic documents to get our lawyer loan: 1. KYC documents - Aadhar / passport / voter's ID / driving license / letter from NPR / NREGA job card 2. PAN card 3. Certificate of Practice and Degree Certificate You may be asked for a few additional documents during the course of the application process*.

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Disbursal in 48 hours*

Your bank account will be credited with your loan amount within 48 hours, or in some cases, on the same day of approval. *The 48-hour disbursal timeframe is an estimate and may vary depending on verification processes, application timing, and additional documentation.

Lawyer Loan EMI Calculator

Lawyer Loan EMI Calculator

Plan your instalments better

Features and benefits of our lawyer loan

  • 3 unique variants

    We have 3 new unique variants – Term Loan, Flexi Term Loan, Flexi Hybrid Loan. Choose the loan variant that works best for you.

  • No part-prepayment fee on Flexi variants

    With Flexi variants, you can borrow as many times as you want to and part-prepay whenever you can. No extra charges.

    Read about our Flexi Hybrid Loan

  • Loan of up to ₹30 lakh

    Get loans from ₹2 lakh to ₹30 lakh to manage your small/ large expenses. Available through an end-to-end online application process.

  • Convenient tenures of up to 8 years

    Get the added flexibility to pay back your loan with repayment options ranging from 12 months to 96 months

  • Money in your bank account in 48 hours *

    The 48-hour disbursal timeframe is an estimate and may vary depending on verification processes, application timing, and additional documentation.

  • No hidden charges

    All the fees and charges are clearly mentioned on this page and in your loan documents. Please read these in detail.

    Know about our fees and charges

  • No collateral required

    You do not have to provide any collateral or security such as gold ornaments or property to get our lawyer loan.

  • End-to-end online application process

    You can apply for our lawyer loan anytime, from the comfort of your home or from wherever you are.

*Terms and conditions apply

Still haven’t found what you’re looking for? Click on any of the links at the top of this page.

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Eligibility and documents

Any lawyer can apply for our loan for lawyers, as long as you meet four basic criteria mentioned below. You will also need a set of documents to complete the application process.

Eligibility criteria

  • Nationality: Indian
  • Age: 22 years to 72 years *
  • CIBIL Score: 720 or higher
  • SANAD registration: Degree to be registered with the bar council

*Age should be 72 years or less at the end of your tenure

Documents required

  • KYC documents - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
  • PAN card
  • SANAD registration certificate

*Additional documents required, if any, will be communicated during the application process.

How to apply for a lawyer loan

Step-by-step guide to applying for a lawyer loan

  1. Click on the ‘APPLY’ button on this page.
  2. Enter your 10-digit mobile number and OTP.
  3. Fill in the application form with your basic Lawyer and professional details.
  4. Once you fill out the form, click on ‘PROCEED’.
  5. Update the KYC details.
  6. Schedule an appointment for document verification.

*Note: Keep your SANAD registration certificate handy to finish the KYC process.

Applicable fees and charges on our lawyer loan

Types of fees Applicable charges

Rate of interest

10% - 20% per annum

Processing fee

Up to 2.95% of the loan amount (inclusive of applicable taxes)

Flexi Facility Charge

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Hybrid Loan (as applicable below):
• Up to Rs. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 200000/-
• Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 200000/- to Rs. 3,99,999/-
• Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-
• Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-
• Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above

*The Flexi charges above will be deducted upfront from the loan amount

*Loan amount includes approved loan amount, insurance premium, and VAS charges.

Prepayment charges

Full prepayment (Foreclosure)

• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the outstanding loan amount as on the date of full prepayment

• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment

• Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment

Part prepayment
• Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment
• Not applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Loan

Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges

Flexi Hybrid Loan:
• Up to 0.59% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure


• Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure

Bounce charges

Rs. 1,500 per bounce.

“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.
Broken period interest / Pre EMI-Interest Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:
• For Term Loan: Deducted from the loan disbursement
• For Flexi Term Loan: Added to the first instalment
• For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
Legal and incidental charges Recovery of charges

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge of Rs. 25 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from the loan amount

Our loan variants

Loan variant

What is it

Flexibility

Withdrawals

EMIs

Part-prepayment Charges

Flexi Charges

Flexi Hybrid Loan

Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest-only EMI is charged during the Initial Tenure, only on the amount utilised.

Easily withdraw funds from the sanctioned limit and prepay effortlessly with our most flexible loan variant.

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount.

No part-prepayment charges.

Nominal* Flexi charges applicable.

Flexi Term Loan

Offers flexibility in borrowing and repaying within a specified loan limit. Your EMIs cover both the principal and interest for the withdrawn sum over the entire duration.

Easily withdraw funds from the sanctioned limit and prepay effortlessly. More flexible than our regular term loan.

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Fixed EMIs only on the withdrawn amount.

No part-prepayment charges.

Nominal*Flexi charges applicable.

Term Loan

There is no pre-assigned limit. Involves borrowing a fixed amount for a specified term. The loan type offers two repayment options: fixed monthly payments for the full term or up to 24 months of interest-only payments, followed by interest and principal payments.

Fixed loan structure and repayment schedule. Less flexible than our flexi term or flexi hybrid loans.

Single disbursement of the loan amount.

Fixed EMIs on the disbursed amount.

Nominal*part-prepayment charges applicable.

No Flexi charges.
*Please refer to the Interest Rates, Fees and Charges section for more details on Flexi charges and annual maintenance charges.

Frequently asked questions

Can a lawyer get a loan?

Yes, a lawyer can get a loan. Bajaj Finserv offers specialised loans for lawyers, providing flexible financing options to meet their professional and personal needs. With competitive interest rates and easy repayment options, Bajaj Finserv Loan for Lawyers is designed to support legal professionals in achieving their financial goals.

How can lawyers apply for loans?

Lawyers can apply for loans with Bajaj Finserv Loan for Lawyers by following these steps:

  1. Click on the 'APPLY' button on the page.
  2. Enter your 10-digit mobile number and OTP.
  3. Fill in your basic and professional details.
  4. Click 'PROCEED.'
  5. Update your KYC details.
  6. Schedule an appointment for document verification.
Can lawyers get home loan in India?

Yes, lawyers can get home loans in India. Many banks and financial institutions offer home loans to self-employed professionals, including lawyers. Eligibility depends on factors such as income, credit score, and financial stability. Lawyers can benefit from competitive interest rates and flexible repayment options tailored to their needs.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.