Get Instant Personal Loans with Navi

Get Instant
Personal Loans with Navi

Enjoy attractive interest rates starting at 9.9% p.a. with flexible EMI options.

Enjoy attractive interest rates starting at 9.9%
p.a. with flexible EMI options.

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Features and Benefits

Features and Benefits

Get instant personal loans up to Rs.20 lakh starting from 9.9% p.a.
Zero paperwork required. Just download the Navi app and apply
Loan repayment tenure up to 72 months. Repay at your convenience
No processing fee for loans of Rs.50,000 or above and get the exact amount disbursed
End-to-end transparent loan application to disbursal process

Interest Rate and Charges

Interest Rate: 9.9% - 45% p.a.
Loan Amount: Up to ₹20 Lakh
Tenure: 3 to 72 months
Processing Fee: Zero (for loans of ₹ 50,000 or above)

Interest Rate and Charges

Interest Rate: 9.9% - 45% p.a.
Loan Amount: Up to ₹20 Lakh
Tenure: 3 to 72 months
Processing Fee: Zero (for loans of ₹ 50,000 or above)

Personal Loan EMI Calculator

Interest Amount
Principal Amount
Monthly EMI ₹0
Total Interest ₹0
Total Amount ₹1,04,14,798
Loan Amount
Rate Of Interest (P.a)
Loan Tenure (Months)

How to Apply for Navi Personal Loan ?

How to Apply for Navi Personal Loan ?

Download Navi App from Play Store or App Store
Enter a few basic details to check your eligibility
Enter loan amount and tenure.
Complete your video-KYC using PAN, Aadhaar and Selfie.
Enter bank details and set-up auto pay. Get instant money in your bank account.

Eligibility Criteria

PAN card holder
Salaried or Self-employed
Good CIBIL score*

Eligibility Criteria

PAN card holder
Salaried or Self-employed
Good CIBIL score*

Documents Required

Navi offers instant loans with minimal documentation. To complete your KYC, you just need
PAN card
Aadhaar Card

Documents Required

Navi offers instant loans with minimal documentation. To complete your KYC, you just need
PAN card
Aadhaar Card

Our Journey So Far

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App Downloads
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Loans sanctioned
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Loan amount disbursed
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Active Loans

What our customers say about us

Blogs

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Apr 15

A Comprehensive Guide on How to Get Instant Cash Loan in 1 Hour

Are you in need of urgent cash? Avail of instant personal loans and get money deposited into your account within an hour
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Feb 5

Everything You Need to Know About Personal Loan Interest Rates

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Feb 12

How to Get a Personal Loan without Income Proof: A Complete Guide

Explore our videos

View all

Explore our videos

Planning to take a Personal Loan? Avoid These 4 Common Mistakes
5 Reasons Why Your Personal Loan Application Could Get Rejected
A Comprehensive Guide to Repay Your Personal Loan Faster

Frequently asked questions

You can repay your loan in Equated Monthly Instalments or EMIs during the loan tenure. If you link your bank account through the Navi App by setting up an E-Mandate, the EMI amount would be auto debited from your bank account on the specified date set-up by you every month.
Yes, you can foreclose or prepay your personal loan after the payment of at least one EMI, subject to terms and conditions terms and conditions.
Defaulting on EMI payments will lead to bounce charges, penal interest and late payment fees being levied, as per the terms and conditions of the loan agreement. Most importantly, this could affect your credit score.
Navi offers maximum loan amount of ₹20 lakh from Navi. The sanctioned loan amount is subject to Navi’s underwriting. The maximum repayment tenure is 6 years i.e. 72 months.
Personal loans are unsecured loans. You do not have to provide any security or collateral.
Having a credit score of 720 or above is always good to get the best loan offers. However, that doesn’t necessarily mean that you won’t get a loan if you don’t have an excellent credit score.
Healthy financial habits like paying all your credit card bills and loan EMIs on time, avoiding multiple loan applications in quick succession, and checking your credit score regularly to spot and rectify errors (if any) among other things could help gradually improve your score. We have an extensive blog and a video on the same in case you want to learn more about it.
If you’re pre-approved for a loan, it means the lender has already evaluated your loan eligibility. For pre-approved loans, the loan offer processing has already happened basis your credit profile.
This could happen if there’s a mismatch with your details. For any help during such situations, write to us at help@navi.com help@navi.com
You can get your mobile number linked at your nearest Aadhaar Seva Kendra.
In case of any pre-payment / excess amount paid the same will be paid towards the principal outstanding.
Our system generates the maximum amount you are eligible for based on various parameters like your credit score, income, etc. You will not be able to borrow a higher amount than this amount for this time. But, if you show consistent repayment record, we could offer you a Top-Up loan after some time or you could be eligible for a higher amount next time.
Personal Loan interest rates are applied basis the defined pricing matrix followed and standardised as per customer’s profile.
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All information is subject to specific conditions | © 2022 Navi Technologies Ltd. All rights are reserved.

What is Navi Personal Loan?

Get instant personal loans up to ₹20 lakh with Navi Personal Loan. Navi offers personal loans at attractive interest rates starting from 9.9% p.a. with flexible EMI options up to 72 months. You can download the Navi App from Play Store or App Store and avail of small cash loans or big ticket loans in a 100% paperless way.

Features and Benefits of Navi Personal Loan

Here are some of the features and benefits of Navi Personal Loan:
  • 100% paperless process: The entire personal loan journey - from application to disbursal - is completely paperless
  • Instant disbursal: Apply for personal loans and get the required amount deposited into your bank account within minutes
  • Flexible EMI options: Enjoy flexible repayment tenures up to 72 months
  • Zero processing fee: You don’t have to pay any processing fee for loans of ₹50,000 or above
  • No additional or hidden charges: The entire personal journey is completely transparent with no hidden charges

How to Apply for Navi Personal Loan?

You can download the Navi app in 5 easy steps and get an instant loan in minutes:
  • 1. Download the Navi app from Play Store or App Store
  • 2. Enter a few basic details like name, address, PAN details, DoB, monthly income, and employer name to check your eligibility
  • 3. Enter loan amount and tenure
  • 4. Complete your video-KYC using PAN, Aadhaar and Selfie
  • 5. Enter bank details and set-up auto pay, and get instant money in your bank account

Navi Personal Loan Interest Rate & Charges

Refer to the below pointers for Navi Personal Loan interest rate, charges and other details:
  • Interest Rate: 9.9% - 45% p.a.
  • Processing Fee: Zero*
  • Foreclosure Fee: Zero
  • Loan Amount: Up to ₹20 Lakh
  • Tenure: Up to 72 months
*For loans of ₹50,000 or above

Navi Personal Loan Eligibility Criteria

  • Indian resident
  • Salaried or Self-employed
  • 18 - 65 years
  • Credit Score - 675 or above

Navi Personal Loan Documents Required

  • PAN card
  • Aadhaar card

Types of Personal Loans In India

Though personal loans can’t be bifurcated into different types, however, here are some of the ways you can use a personal loan:
  • 1. Marriage Loan: Exhausting your savings for a wedding can be financially draining. In such situations, taking a personal loan for wedding can be a solution
  • 2. Travel Loan: You can get a personal loan to cover your travel expenses. This could also help you mitigate over-dependency on credit cards and let you save on the interest that’s charged on credit card transactions
  • 3. Personal Loan for Home Renovation: Planning to give your home a makeover? Instead of exhausting your savings, you can take a personal loan for home renovation
  • 4. Medical Loan: Medical expenses can be daunting at times. You can take a personal loan for medical expenses to sail through unforeseen medical emergencies
  • 5. Used Car Loan: You can apply for an instant personal loan if you’re planning to buy a second-hand car
  • 6. Small Cash Loan: Whether it’s shopping for the festive season or paying your child’s school admission fee, you can apply for a small cash loan or personal loan
  • 7. Top-up Loan: If you need additional funds above and beyond your existing personal loan, you can go for a top-up loan on your existing personal loan
  • 8. Personal Loan for Two-wheeler: Need instant funds to buy a new two-wheeler? Save your time and effort, and apply for a personal loan for two-wheeler.
  • 9. Personal Loan for Vehicle: Apply for an instant loan in order to gather funds to buy or repair your vehicle. Since personal loans are unsecured loans, you don’t have to worry about pledging collateral or seeking a guarantor.
  • 10. Computer/Mobile Phone Loan: Have your eye on the latest iPhone model or Macbook but don’t want to exhaust your savings? Apply for a personal loan and get instant funds transferred to your account.
  • 11. Consumer Durable Loan: Planning to buy lifestyle and household items in bulk? Take a consumer durable loan. These loans are personal loans that you can use to purchase things like fridge, TV, washing machine, laptop, AC, and other durable items.

Things to Remember Before Taking a Personal Loan

Here are a few factors to consider before taking a personal loan:
  • Check your credit score: Having a good credit score could help you fetch better deals like lower interest rates, instant approval, etc., on your loan. Lenders prefer customers having a credit score of 750 or above. If your credit score is low, follow the best financial practices to improve your credit score
  • Compare interest rates: Compare lenders on the basis of fees and charges, interest rates, and other terms and conditions before taking a loan. This would help you to make an informed decision
  • Evaluate your repayment capacity: Remember that you have to repay your loan in EMIs. So, evaluate your repayment capacity before taking a loan. Defaulting on your personal loan could put a serious dent in your credit profile
  • Have a repayment plan: Smart and responsible borrowers always have a repayment plan in place so that they don’t have to struggle during personal loan EMI due date
  • Apply for the amount you need: Try not to go overboard while taking a personal loan. You might be pre-approved for a bigger loan amount, however, it’s recommended to apply for the amount you actually need. This would also help you ease the EMI burden

How to Calculate Personal Loan EMI?

It’s good to calculate your personal loan EMI beforehand so that you can plan your finances accordingly. This could also help you make an informed decision while applying for a loan. You can use a personal loan EMI calculator to calculate your personal loan EMI. All you need to do is enter the loan amount, interest rate, and tenure. Once done, you will be able to check your monthly repayment obligations.

Formula for personal loan EMI Calculation -

P x R x (1+R)^N / [(1+R)^N-1], where

P = Principal loan amount

N = Loan tenure in months

R = Monthly interest rate

The rate of interest (R) on your loan is calculated per month.

R = Annual Rate of interest/12/100

If the rate of interest is 7.2% p.a. then r = 7.2/12/100 = 0.006

For example, If a person avails a loan of ₹10,00,000 at an annual interest rate of 7.2% for a tenure of 120 months (10 years), then his EMI will be calculated as under:

EMI = ₹10,00,000 * 0.006 * (1 + 0.006)120 / ((1 + 0.006)120 - 1) = ₹11,714

The total amount payable will be ₹11,714 * 120 = ₹14,05,703. Principal loan amount is ₹10,00,000 and the Interest amount will be ₹4,05,703.

Conclusion

Navi offers instant personal loans with minimal documents. All you need to do is download the Navi App, enter your personal details, complete your V-KYC, and link your bank account. If the details are accurate, the amount would be disbursed directly into your bank account within a few minutes.