NAVI App Loan 2024 : India is a developing country where most of the startups are growing from 2018-19. NAVI App Loan is one of those successful startup companies in India that provides financial services including Navi personal loans, Navi home loans, mutual funds, UPI, etc facilities. We will discuss the features of the Navi mobile application in this article where we will also focus on the most famous feature of the NAVI application personal loan. Check your eligibility to get a NAVI App Loan 2024 and use the NAVI mobile application accordingly.
Apart from banks, small financial companies are also providing financial products to their customers and the NAVI mobile application is one of them. Applicants can use UPI, Mutual Funds, home loans, cash loans, and Health Insurance facilities by using the mobile application of NAVI company. Due to the paperless process of providing personal loans in the NAVI mobile application, most Indian citizens who want to get personal loans from mobile phones are considering the NAVI App. The company is offering a maximum of 20 lakh personal loans and 5 crore rupees home loans to their customers.
NAVI App Loan 2024
NAVI App Loan 2024 is a loan offered by Navi Finserv, a leading financial services company in India. The loan is available to individuals who meet certain eligibility requirements, and it can be used for a variety of purposes, such as consolidating debt, paying for medical expenses, or financing a major purchase.
Navi App is a digital platform, which offers instant personal loan, home loan, health insurance. This app is an app of Navi Technologies Private Limited, which was launched in the year 2020. Loans (Personal Loan and Home Loan) of Navi App are issued by Navi Finserv P. Ltd., an RBI registered non-banking finance company.
Instant personal loans up to ₹20 lakh can be availed through the Navi App, offered for a monthly repayment tenure of minimum 3 months to maximum 72 months. The entire process of taking NAVI App Loan 2024 is online. Navi App Loan 2024 is available on Google Play Store and has more than 1,00,00,000 downloads so far. NAVI App Loan 2024 can be taken in case of sudden need of money.
NAVI App Loan 2024 : Highlights
| Minimum Loan Amount | Rs. 10,000 |
| Maximum Loan Amount | Rs. 20 Lakhs |
| Tenure | 3 to 72 months |
| Rate of Interest | 9.9% p.a. |
| Processing Fee | 3.99% to 6% of the loan amount |
| Collateral | Not required |
| Foreclosure Charges | Nil |
Features of NAVI App Loan 2024
- If you are applying for a personal loan in the Navi mobile application, then Interest rates start from 9% onward and applicants who want to get a home loan from the company then they can receive more than 8% interest rates accordingly
- Since this is a digital financial company all the documentation work and other important work will be done through online mode by using the official mobile application of NAVI App Loan 2024.
- If you are interested in mutual funds and want to invest with proper information on share markets then the NAVI mobile application will help you to assist with mutual funds and provide forms to invest in various companies.
- Companies offering a maximum of 1 crore rupees cover under the Health Insurance program of NAVI.
- Applicants can prepare a maximum of 4 years of EMI while applying in the personal loan scheme of the NAVI App, but if you want to repay the loan amount at one time then you can also use this facility at any time during tenure.
Eligibility criteria for NAVI App Loan 2024
- Any Indian citizen can use the Navi mobile application .
- The minimum age of the applicant should be more than 18 years old to apply for NAVI UPI Facilities.
- However, if you are going to apply for a personal loan then your age should be between 21 years to 65 years.
- A salaried person and a self-employed both can both apply in this application for a personal loan, however annual income of the applicant should be more than 3 lakh rupees.
- CIBIL score should be good and more than 750 to apply for personal loan and home loan schemes.
- Applicants should have their bank details .
- Applicants provide bank account details for annual income-related information including bank statements or salary slip.
- Aadhar Card and PAN card are mandatory and should be linked with each other and the bank account of the applicant.
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NAVI App Loan 2024 documents requirements
- PAN Card.
- Aadhaar card.
- Latest bank statement.
- If you are salaried, you will also need to provide the following documentation :-
- Salary slip
- Employer’s letter
- If you are self-employed, you will also need to provide the following documentation :-
- Business registration documents.
- Latest tax returns.
- Bank statements for the last 6 months.
In addition to these documents, NAVI App Loan 2024 may also ask you to provide other documentation, such as a passport, a driving license, or a utility bill. You can download these documents online when you apply for the NAVI App Loan 2024. Navi will review your documents and let you know whether you are approved for the loan. If you are approved, the funds will be disbursed to your bank account within mins.
How to Apply online for NAVI App Loan 2024 ?
Applicants have to download the mobile application of NAVI on their smartphone to use financial services after that you can follow the following procedure for applying personal loan in the Navi mobile application:
- First of all, open the Play Store or App Store mobile application and download the NAVI App.
- You have to download the official application by checking the logo in the below given image.
- Once you install the Mobile application on your smartphone you have to enter your mobile number to login.
- After that create your profile on this mobile application and provide your personal details including, Bank information, Aadhar Card, and PAN card information, and complete the KYC.
- After that, you have to provide your banking information to check your eligibility for a personal loan. If you are eligible then you will get a NAVI App Loan offer from the bank.
- After that, you have to link your mobile application with your bank by providing some basic details and completing loan KYC.
After that, you will receive the loan amount in your bank account instantly after completing the verification procedure.
Navi Personal Loan Charges
Navi Personal Loans have a few charges associated with them, including :-
- Interest rate : The interest rate on a Navi Personal Loan will vary depending on your credit score, your reimbursement capacity, and the amount of the loan. The interest rate can range from 9.9% to 45% P.A.
- Processing fees :The processing fee for a Navi Personal Loan is 3.99% to 6% of the loan amount. The processing fee is payable upfront before the loan is disbursed.
- Late payment fees : If you miss a payment on your Navi Personal Loan, you will be charged a late payment fee. The late payment fee is typically 2% of the outstanding amount.
- Prepayment charges : If you want to prepayment your Navi Personal Loan, you may be charged a prepayment penalty. The prepayment penalty is typically 3% of the outstanding quantity.
In addition to these fees, Navi may also charge other fees, such as a documentation fee or an insurance premium. These fees will vary depending on your personal circumstances.
It is important to read the terms and conditions of your Navi Personal Loan carefully before you apply for the loan. This will help you understand the charges that you will be liable for.
Navi Personal Loan interest rate
The interest rate on a Navi Personal Loan will vary depending on your credit score, your reimbursement capacity, and the amount of the loan. The interest rate can range from 9.9% to 45% P.A.
For instance, if you have a good credit score and you are applying for a loan of Rs. 1 lakh, you may be offered an interest rate of 9.9% p.a. However, if you have a lower credit score and you are applying for a loan of Rs. 5 lakh, you may be offered an interest rate of 45% p.a.
FAQ’s : Navi App Loan 2024
Which loans can be took from Navi App ?
You can taking home loan and personal loan from Navi App
Who is the founder of NAVI App ?
Navi is an Indian application whose founder is Sachin Bansal.
What is the customer care number of Navi App ?
The customer care number of Navi App is+9180108 33333.
Is Navi App Loan 2024 Approved by RBI ?
Navi Loan App is registered with RBI to facilitate loan transactions between NBFC debtors and Navi Finserv Private Limited.
How much home loan can one get on Navi App ?
You can get a home loan up to Rs 1.5 crore on Navi App and you get 25 years to reimburse it.