Navi Personal Loan

Individuals can avail of Navi personal loans to meet their financial requirements, like funding a wedding or paying credit card bills. Navi personal loan interest rate starts from 9.9% pa for terms of up to 84 months, and loan amounts of up to INR 20 lakh can be availed. Using the Navi app, borrowers can obtain a digital personal loan without processing fees. Based on PAN and Aadhaar Number, the cash loan processing is entirely paperless. Navi personal loans are approved in 10 minutes and disbursed immediately to the applicant’s bank account.

Navi Personal Loan Highlights 2023

Navi Personal Loan Quick Details
Interest rates	9.9% – 45% p.a.
Loan amount	Up to ₹20 Lakh
Repayment tenure	72 months
Processing Fees	3.99% to 6% of the loan amount
Foreclosure Charges	Zero

Navi Personal Loan Interest Rate

The Navi personal loan interest rate starts from 9.9% pa and goes up to 45% pa. The personal loan interest rate is affected by the borrower’s eligibility, credit score, repayment history, and other factors. The option of flexible EMIs is available, and a borrower can use the Navi personal loan EMI calculator to understand their interest rates and EMIs better.

Starting Interest Rate	9.9% p.a.
Maximum Interest Rate	45% p.a.

Features of Navi App Loan

Navi app is a digital app that grants personal loans to borrowers without them having to visit the store physically. The features of Navi personal loans are given below.

• Navi personal loans do not require any collateral or guarantor 
• The flexible repayment tenure ranges from 12 months to 84 months.
• Loan amounts availed under personal loans can also be utilised to fulfil business requirements.
• The documents required to enjoy the Navi personal loan offers are pretty minimal.
• The loan amount is disbursed into the borrower’s account when they meet the lender’s terms and conditions.
• Low Navi personal loan interest rate to borrowers with good credit scores.
• A borrower can utilise the Navi personal loan EMI calculator to determine the EMI on their loan amount.
• There is a facility to prepay the loan before the tenure. This will reduce the borrower’s EMI burden. 

Eligibility Criteria for Navi Personal Loan

To enjoy the benefits that Navi personal loan offers, they must meet certain eligibility criteria set in place. One can use the Navi personal loan eligibility calculator to check if they can avail of the personal loans offered by the Navi app. The following Navi personal loan eligibility must be met:

• Applicant must be an Indian resident
• Navi personal loan age limit ranges between 18 and 65 years
• They must hold a valid PAN card
• Salaried and self-employed individuals are eligible
• A minimum credit score of 650 is required

Why choose Navi Personal Loans?

Navi personal loan offers the best services and attractive interest rates. A borrower must choose Navi personal loans for the following reasons.

Instant Disbursal

Borrowers can get their Navi personal loan instantly in minutes. There is no longer a need to wait days to get the loan amount. However, a borrower must meet the Navi personal loan eligibility criteria in order to get the desired loan amount sanctioned. 

Paperless Process

Navi personal loans escape the hassle of paperwork by sanctioning the loan using the internet. This 100% paperless process is entirely based on the Navi app. From filling out the loan application to disbursal of the loan amount, the navigation is easy and is accessible anytime, anywhere.

Flexible EMI Option

Navi personal loan offers flexible EMI options. Borrowers can pay EMIs at their convenience. The repayment tenure of the Navi personal loan goes up to 72 months or six years. The app also offers borrowers the freedom to choose the tenure that suits them and repay loans without worry.

Minimal Documentation

Navi Personal Loan processing does not require heavy paperwork. A borrower can instantly get attractive Navi personal loan interest rates by providing documents like a PAN card.

No Collateral Required

The Navi personal loan offers unsecured loans where the borrower is not required to submit any collateral or a guarantor. However, the sanctioned loan amount depends upon the borrower’s eligibility and other requirements.

Where is Navi Personal Loan available?

One can avail of the Navi personal loans through the Navi app. The application is available on the app store for Apple users and the play store for android users. There is no hassle or elaborate process involved for Navi personal loan apply online. 

Documents Required for Navi Loan

There are certain documents that must be produced when applying for Navi personal loans. Applicants must keep the following documents handy to ensure a smooth Navi Personal Loan processing. 

• PAN card
• Aadhaar card
• A selfie as identity proof

Navi App Personal Loan Interest Rate VS Other Top Lenders’ Interest Rate

Borrowers must be aware of the various lenders offering personal loans. The table below compares Navi personal loan interest rates and other lenders’ interest rates.

Banks/NBFCs	Interest Rate (pa)	Processing Fee
Navi Personal Loan	9.90% onward	Check with the Lender
HDFC Personal Loan	10.50% onward	Up to 2.5%
Yes Bank Personal Loan	13.99%	Up to 2.5%
Kotak Mahindra Personal Loan	10.25% onward	Up to 2.5%
Axis Bank Personal Loan	12% onward	Check with the Lender
IndusInd Bank Personal Loan	11% onward	2.5% onward
IDFC FIRST Personal Loan	12%	Up to 3.5%
Aditya Birla Capital Personal Loan	14%	Up to 2%
IIFL Personal Loan	24%	2% onward

Note: The comparison is dated February 24, 2023

Navi Customer Support

A customer may find themselves in a turmoil when applying for Navi personal loans. The app has set up a customer support system to guide its customers through the process. One can reach the representatives of the Navi personal loans through email. The mail ID is help[@]navi[dot]com No information is available on Navi personal loan helpline number for a customer to resolve their issues. 

Conclusion

Navi app is the beginning of a new era. This digital platform allows Indians to avail of home loans, personal loans, and cash loans and invest in mutual funds by merely fulfilling basic requirements and out of the comfort of home. Navi personal loan offers attractive interest rates and flexible repayment tenure. Welcome to the digital age!