Get an instant ₹5 Lakh Personal Loan with Navi
About ₹5 Lakh Personal Loan
Want a lump sum amount of ₹5 lakh to meet an urgent financial need? Look no further, you can get an instant personal loan of ₹5 lakh from Navi in a 100% paperless manner. It’s convenient and fast with no end-use restriction. You can use the amount to address any financial requirement.
All you need to do is download the Navi app from the Play store or App store and apply for a personal loan with minimal documentation. From application and approval to disbursal, the entire process takes only a few minutes! You can also enjoy attractive interest rates and flexible EMIs. Whether you need ₹5000 or ₹5 lakh, Navi has got you covered.
Features and Benefits of ₹5 lakh Personal Loan
Features and Benefits of ₹5 lakh Personal Loan
How to Apply for ₹5 Lakh Personal Loan?
How to Apply for ₹5 Lakh Personal Loan?
Eligibility Criteria and Documents Required
Indian Resident 18-65 years of age
PAN Card Holder
Salaried or Self-Employed
Aadhaar Card Holder
₹5 Lakh 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 ₹5 Lakh Personal Loan EMI?
You can calculate the EMI manually or via Navi Personal Loan EMI calculator online. Knowing your EMI amount before applying for a loan will help you manage your finances better. The formula for EMI calculation is:
EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.
Manual calculations may not be accurate and are time-consuming. Instead, use the Navi online EMI calculator for precise and quick results. Just enter the loan amount, repayment tenure and interest rate on the EMI calculator to get the monthly EMI estimate.
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 ₹5 Lakh Personal Loan?
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.
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.
Various Use Cases of Personal Loan
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Frequently asked questions
You should consider the following tips before applying for a ₹5 lakh personal loan:
- Credit score: Your credit score reflects your financial reliability or creditworthiness. Maintaining a good credit score will lead to getting a fast approval of your personal loan application. On the other hand, a low credit score could lead to rejection.
- Repayment capacity: You should assess your repayment capacity before deciding on the loan amount. Defaulting EMI payments will hamper your CIBIL score and lower your chances for future loan approvals.
- Loan EMI: You should calculate your EMIs in advance and evaluate if such an amount can be balanced with your monthly obligations so that you don’t miss out on EMIs.
You can write to [email protected] in case you face any issues with the Navi app or have any other queries.