Financial emergencies can occur any time in life. One should always be prepared to overcome unexpected financial crunch.
However, no matter how much you are prepared, you might find yourself stuck in a situation when taking financial assistance from external sources would be the only solution. That’s when personal loans come to your rescue.
It is a popular and widely accepted credit facility available in the financial market. That is why almost every bank or other financial institution provides its own personal loans. One such lending institution is Navi Finserv Pvt Ltd.
Navi Finserv is a new-age digital platform that provides instant personal loans, housing loans, and health insurance. You can get instant personal loan up to Rs. 5 Lakhs from Navi to meet all your instant financial needs.
Navi personal loan comes with remarkable features and benefits for the borrowers. If you haven’t heard about it before, here is everything you need to know about Navi personal loan.
Features of Navi Personal Loan
- Loan amount: You can apply for a minimum of Rs. 10,000 and maximum up to Rs. 5,00,000 as loan amount.
- Rate of interest: Navi personal loan interest rates are competitive and range 12% to 36% per annum.
- Repayment tenure: The borrowed loan amount can be paid in flexible Equated Monthly Instalments (EMIs) within a tenure of 3 to 60 months.
- Operational cities: Currently, Navi offers personal loans in select cities. The services will be extended to other states and cities soon.
Benefits of Navi Personal Loan
- Instant money transfer online to your bank account.
- 100% paperless loan process.
- Flexible loan amount and EMI options.
- Zero foreclosure charges
- No bank statements or salary slips are required to apply for the loan.
- Minimal documentation required. No printouts needed as the documentation process is entirely online.
- Instant eligibility check.
- No collateral or security deposit required.
Documents Required for Navi Personal Loan
- PAN number
- Aadhaar number
Eligibility Criteria for Navi Personal Loan
- The applicant should be an Indian citizen.
- The age of the applicant should be more than 18 years.
- The loan is offered in select cities.
Navi Personal Loan – Fees and Charges
- Processing fees: 2.5% to 6% of the sanctioned loan amount, subject to a minimum of Rs. 1,499 + GST and maximum of Rs. 7,499 + GST.
- Prepayment charges: Nil.
How to Apply for Navi Personal Loan?
- Install the Navi App from Google Play Store or Apple App Store on your smartphone.
- Register with your mobile number.
- Fill the required basic details about yourself to check your Navi personal loan eligibility.
- Choose the required loan and EMI amount preferred by you.
- Complete the KYC process with a selfie and Aadhaar.
- Enter the bank details for instant money transfer
- Your application is completed and you will receive your money in your bank account instantly on approval.
Navi Personal Loan – Operational Cities
- Andhra Pradesh: Visakhapatnam, Ananthapur, Guntur, Chittoor, Krishna, and East Godavari.
- Bihar: Patna and Gaya
- Delhi NCR: New Delhi, Noida, Greater Noida, Gurgaon, Ghaziabad, and Faridabad.
- Gujarat: Ahmedabad, Vadodara, and Valsad.
- Haryana: Ambala, Kurukshetra, Karnal, Panchkula, and Panipat.
- Jharkhand: Ranchi
- Karnataka: Bangalore, Kolar, Hassan, Mysore, Udupi, Dharwad, and Mandya.
- Kerala: Kollam, Kottayam, Ernakulam, Thiruvananthapuram, and Thrissur.
- Madhya Pradesh: Indore.
- Maharashtra: Mumbai, Pune, Nagpur, Navi Mumbai, Thane, Kolhapur, Aurangabad, Nashik, Ahmed Nagar, and Satara.
- Odisha: Bhubaneshwar and Cuttack.
- Punjab: Amritsar, Chandigarh, Ludhiana, Jalandhar, Bathinda, Mohali, Ropar, and Fatehgarh Sahib.
- Rajasthan: Jaipur, Ajmer, Alwar, Udaipur, Kota, and Jhujhunu.
- Tamil Nadu: Chennai, Madurai, Tiruchirappalli, Erode, Vellore, and Salem.
- Telangana: Hyderabad, Mahabubnagar, and Secunderabad.
- Uttar Pradesh: Noida, Lucknow, Ghaziabad, and Jhansi.
- Uttarakhand: Dehradun
- West Bengal: Kolkata, Howrah, and Hoogly.
How to Calculate Navi Personal Loan EMI?
You can calculate the EMI of Navi personal loan using Personal Loan EMI Calculator available online. Here is an example:
- Loan amount required: Rs. 2,00,000
- Tenure: 60 months
- Applicable rate of interest: 12% p.a.
- EMI: Rs. 4,449
- Total interest payable: Rs. 66,933
- Processing fees (inclusive of GST): Rs. 1,499
- Disbursed amount: Rs. 1,98,501
- Total amount payable: Rs. 2,66933
Navi Personal Loan EMI Customer Care
You can contact Navi personal loan customer care for any of your queries through any of the following methods:
- Office address: Navi Technologies Pvt Limited, 3rd Floor, Salarpuria Business Center, 93, 5th A Block, Koramangala, Bangalore – 560095