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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!
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About Personal Loan
- Personal Loan Top up
- Consumer Durable Loan
- Pre-Approved Personal Loan
- Loan on Credit Cards
- Personal Loan Preclosure
- Personal Loan Prepayment
- Personal Loan for Businessmen
- Paperless Personal Loan
- Advance Salary Loan
- Personal Loan Eligibility
- Personal Loan Tracking
- 10 Lakh Personal Loan
- Personal Loan for Senior Citizens
- 5 Lakh Personal Loan
- 3 Lakh Personal Loan
- Debt Consolidation Personal Loan
- Personal Loan Balance Transfer
- Overdraft Personal Loan
- Personal Loans for Self-Employed
- Personal Loan of 70,000
- Personal Loan of 60,000
- Personal Loan of 50,000
- Personal Loan of 40,000
- Personal Loan of 30,000
- Personal Loan of 25,000
- Personal Loan of 20,000
- Personal Loan of 15,000
- Personal Loan of 10,000
- Personal Loan of 4 Lakh
- Personal Loan for CIBIL Score of 800
- Personal Loan for CIBIL Score of 750
- Personal Loan of 7 Lakh
- Personal Loan of 12 Lakh
- Personal Loan for CIBIL Score of 500
- Personal Loan for Wedding
- Small Personal Loan
- Flexi Personal Loan
- Personal Loan without Documents
- Personal Loan without Salary Slip
- Personal Loan With Low CIBIL Score
- Personal Loan Without Income Proof
- Debt Consolidation Personal Loan
- Personal Loan for Travel
- Personal Loan for Medical Emergency
- Personal Loan with 600 CIBIL Score
- Personal Loan with 550 CIBIL Score
- 8 Lakh Personal Loan
- 2 Lakh Personal Loan
- 1 Lakh Personal Loan
- Personal Loan for Doctors
- Personal Loan for Students
- Personal Loan for Women
- Personal Loan For Salaried Employees
- Citibank Personal Loan Eligibility Calculator
- IndusInd Bank Personal Loan Eligibility Calculator
- Navi Personal Loan Eligibility Calculator
- PNB Personal Loan Eligibility Calculator
- Canara Bank Personal Loan Eligibility Calculator
- Kotak Mahindra Bank Personal Loan Eligibility Calculator
- Fullerton India Personal Loan Eligibility Calculator
- Bajaj Finserv Personal Loan Eligibility Calculator
- Bank of Baroda Personal Loan Eligibility Calculator
- Tata Capital Personal Loan Eligibility Calculator
- ICICI Personal Loan Eligibility Calculator
- SBI Personal Loan Eligibility Calculator
- HDFC Personal Loan Eligibility Calculator
- Axis Bank Personal Loan Eligibility Calculator
- Union Bank Personal Loan Eligibility Calculator
- IDFC Personal Loan Eligibility Calculator
- Yes Bank Personal Loan Eligibility Calculator
- Personal Loan Interest Rates
- Personal Loan Eligibility Calculator
- Personal Loan Balance Transfer Calculator
- Personal Loan Prepayment Calculator
- Personal Loan EMI Calculator
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FAQ's About Navi Personal Loan
Is Navi a registered NBFC?
Navi is registered with the Reserve Bank of India as Systemically Important Non-Deposit Taking NBFC (ND-SI). It lends through the Navi app.
How do I borrow from the Navi app?
You must first install the Navi app and carry on by creating an account. Follow our guide to know more.
What is the minimum salary required for Navi's Personal Loan?
A borrower must have a minimum salary of INR 20,000 for a Navi personal loan.
Can I get a personal loan from Navi?
Yes, you can get a personal loan from Navi at an interest rate starting from 9.9% pa.
Is the Navi app approved by RBI?
Yes, Navi Finserv is registered with the RBI.
What is the rate of interest in Navi?
Navi personal loan interest rate starts from 9.99% pa and can go up to 45% pa.
Can I get a loan from the Navi app?
Yes, you can get a loan from the Navi app. There will be zero processing fee charged.