Get an instant ₹20,000 personal loan with Navi
About ₹20,000 Personal Loan
Facing a sudden cash crunch? During such financial emergencies, a personal loan of ₹20,000 could be a huge help. Thanks to Navi, you can now avail an instant personal loan within a few minutes in a 100% paperless manner.
All you have to do is download the Navi app and apply for a ₹20,000 personal loan. It’s that simple! From application and approval to disbursal – the entire process is super quick and hassle-free. You will also enjoy flexible EMIs and competitive interest rates.
Features and Benefits of ₹20,000 Personal Loan
Features and Benefits of ₹20,000 Personal Loan
How to Apply for a ₹20,000 Personal Loan?
How to Apply for a ₹20,000 Personal Loan?
Eligibility Criteria and Documents Required
Indian Resident 18-65 years of age
PAN Card Holder
Salaried or Self-Employed
Aadhaar Card Holder
₹20,000 Personal Loan Interest Rates in India
| Interest Rate | 9.90% p.a. onwards |
| Processing Fee | Up to ₹7,500 |
| Loan Amount | Up to ₹20 lakh |
| Loan Prepayment Fee | Nil |
| Loan Tenure | From 3 to 72 months |
How to Calculate EMI on ₹20,000 Loan?
You can calculate the EMI of your ₹20,000 personal loan manually or through Navi Personal Loan online EMI calculator. Calculating your monthly repayment amount will help you plan your finances better. Here is the formula for calculating EMI for a personal loan:
EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.
Calculating EMIs manually can get hectic and leaves room for error. Opt for Navi’s online EMI calculator to get faster and accurate results. Just enter the loan amount, tenure and interest rate. The online calculator will display the EMI amount.
Personal Loan Calculator
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Months)
months
Monthly EMI
0
Total Interest
Total Amount
Why Choose Navi for your ₹20,000 Personal Loan?
No paperwork
100% app-based paperless process. You can apply for a loan from anywhere, anytime.
Instant disbursal
If you need instant cash to cross any financial hurdle, choose Navi. It hardly takes a few minutes to apply and get the loan disbursed to your account if you are eligible.
No hidden charges
Extremely transparent process with no additional or hidden charges. In case you have any doubt, feel free to write to us or check our rate card.
Various Use Cases of Personal Loan
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Frequently asked questions
Here are some of the factors you should consider before taking a personal loan:
- Credit score: Your credit score defines your creditworthiness. A good credit score can help you fetch better deals on your loan. Similarly, a poor credit score could reduce your creditworthiness and lead to loan rejection.
- Repayment capacity: Check your repayment capacity before taking a loan. Missed EMI payments could hurt your credit score and put a dent in your creditworthiness.
- Loan EMI: Always calculate your loan EMI beforehand to check your monthly repayment obligations. This would help efficiently manage your finances.