Navi – Instant Loans & Mutual Funds
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How to get loan from Navi App 2023 ?
There are many apps and other sources by which you can get instant loan. In the recent times, There is an app which is in talks everywhere which is launched by Flipkart’s Co-Founder Sachin Bansal which is Navi App. Today we are going to see How to get loan from Navi App and other details as well.
First of all, Navi App is an Instant Personal Loan App which will help you to meet the personal financial needs of an individual that offers personal loans up to Rs 5 Lakhs with an amazing interest rates, as a direct cash transfer to bank account.
What are the types of Loans available in Navi App ?
Navi App, Not only gives Personal Loan to individuals but it also has been providing Health Insurance and also it has recently launched Home Loan as well. This is a gift for the middle class people who can easily apply for loans and buy new houses as well and use the money for other purposes as well.
Navi App Loan Available cities
Right now, Navi isn’t available in all over India. It is available only few cities which are
|Delhi NCR||New Delhi, Gurgaon, Noida, Greater Noida, Ghaziabad, Faridabad|
|Maharasthra||Mumbai, Navi Mumbai, Thane, Pune, Nagpur, Ahmed Nagar, Kolhapur, Aurangabad, Nashik, Satara|
|Karnataka||Bangalore, Mysore, Udupi, Dharwad, Kolar, Hassan, Mandya|
|Tamil Nadu||Chennai, Tiruchirappalli, Erode, Madurai, Vellore, Salem|
|West Bengal||Kolkata, Hoogly, Howrah|
|Punjab||Amristar, Ludhaina, Mohali, Bathinda, Chandigarh|
|Gujarat||Ahmedabad, Vadodara, Valsad|
|Telangana||Hyderabad, Secunderabad, Mahububnagar|
|Andhra Pradesh||Vizag, Ananthapur, Chittoor, Guntur, Krishna, East Godavari|
|Kerala||Ernakulum, Kolla, Kotayam, Thiruvananthapuram, Thrissur|
Navi Loan Eligibility Criteria
Some eligibility criteria must be followed to get the loan. Navi App has achieved a lot of success in very little time. It has been providing loan services to a lot of middle class families.
Here is some of the eligibility criteria:
- You must be a citizen of India, If you want to take the loan from this app.
- As mentioned above, The App is still growing. The service is only available in few cities, Those who don’t live in these cities cannot take the loan. This has been a major issue to the app, and the company is trying it’s best to resolve it.
- You must be an adult, With age more than 18 or 18.
There are only two documents required to take the loan from Navi. For a personal loan it is quite mandatory that it asks few documents and security.
So even Navi App demands very few documents. The two documents which are needed are: Identity Proof: Aadhar card, Voter ID Card, PAN Card for successful KYC Registration.
In Navi App, You can the take loan from a minimum amount of Rs 10,000 to an maximum amount of Rs 20Lakhs.
Loan Repayment Time
Loan Repayment is paying back the principal amount borrowed along with interest charged by the bank. Borrowers have the option of repaying the loan amount in the form of a monthly installment by choosing the loan tenure which is also called EMI .
The amount will be deducted from your bank account automatically each month on a given date. While applying for the loan, You mist provide the bank account details that you want the EMI to be deducted from. An Electronic Clearing System or ECS enables loan repayments.
Ensure that the necessary EMI amount is available in the bank account before the due date every month. If the ECS bounces, the borrower is a liable to pay a late payment fee.
Also Read :- SBI Personal Loan From Yono App 2023
Navi App Loan Interest Details
For Personal Loans which is up to 20 Lakhs with a tenure range up to 84months has an interest rate of 12-36% per annum on a reducing balance method.
For House Loans, Home loans for read to move in, under construction, Self-Constructed properties, the maximum loan amount is up to 5crore Rupees with an interest rate of 6.95% per annum and the tenure range is upto 30 years.
For Loans against property. the maximum loan amount is up to 5crore Rupees with an interest rate of 6.95% per annum and the tenure range is upto 30 years.
How to get Loan from Navi App 2022 ?
As you have seen all the details, Now let us see how to get the loan from Navi App. In a step by step procedure.
The Application process is very simple and it doesn’t require a lot of paperwork and documentation. It is completely an online process and you can take a loan from anywhere you want. Anyone can apply for a loan and especially old age people can have a lot of assistance in this.
- First of all, you need to download the Navi App from the Google Play store. It is only available on Android Devices as of now.
- Then you need to sign up on the application by using the mobile number which is registered your Aadhar Card and Bank Account.
- Next, You need to submit more details about yourself and your address details and identity proof like Aadhar Card, Voter ID Card, PAN Card and others. Once you complete that, You will be taken to another page.
- Then you have to select your desired loan amount by moving the blue cursor from minimum to maximum and the interest rate will be shown as well. Also set the tenure range.
- Next, You have to complete your KYC by providing some details about your PAN Card and your Aadhar Card, Sometimes you may be asked to submit a video of yourself for further safety of KYC.
- After completing the KYC, You have to submit the bank details to which you want your money to be credited.
- Once check everything and submit it. Once the confirmation process is done, Instant money will be transferred to your bank account.
So this is all about applying the loan from Navi App. The process is simple and quite easy and the app is gaining popularity amongst the people. We will get back to you with more details.