Get an instant personal loan of ₹5,000 with Navi
About ₹5,000 Personal Loan
Need urgent cash to battle month-end blues? Apply for an instant personal loan of ₹5000 with Navi and stay stress-free. Instant approval, 100% paperless loan journey and minimal documentation make Navi Personal Loan one of the most sought-after loan products in the market.
Getting a personal loan from Navi is extremely simple and hassle-free. All you have to do is download the Navi app and apply for the loan. The whole process, from loan application to disbursal, is extremely quick and convenient. You can avail of loans with attractive interest rates in a 100% paperless manner and repay as per your convenience. Whether you need an instant loan of ₹5,000 or more, Navi has you covered.
Features and Benefits of ₹5,000 Personal Loan
Features and Benefits of ₹5,000 Personal Loan
How to Apply for a ₹5,000 Navi Personal Loan?
How to Apply for a ₹5,000 Navi Personal Loan?
Eligibility Criteria and Documents Required
Indian Resident 18-65 years of age
PAN Card Holder
Salaried or Self-Employed
Aadhaar Card Holder
₹5,000 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 Personal Loan?
You can calculate the EMI for your ₹5000 loan either manually or with the help of a personal loan EMI calculator. The formula for personal loan EMI calculation is as follows:
EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.
Calculating the EMI in advance can help you plan out your budget better. However, manual calculations can be complicated. Instead, you can use the Navi Personal Loan EMI Calculator. With the online EMI calculator, you can easily calculate your monthly repayment obligations. All you need to do is provide the loan amount, interest rate and loan tenure. After putting in the details, you’ll be able to see 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 ₹5,000 Personal Loan?
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 paperwork
100% app-based paperless process. You can apply for a loan from anywhere, anytime.
Competitive rates and charges
We are here to make personal finance accessible to all. So, keeping the affordability factor in mind, we offer you one of the lowest interest rates in the market today.
Various Use Cases of Personal Loan
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Frequently asked questions
Mentioned below are some of the factors that you might consider before taking a personal loan:
- Credit Score: While a good credit score helps in your loan approval, a poor credit score might get your loan application rejected. Also, having a good credit score can help you get better deals on your loan, like lower interest rates.
- Loan EMI: Calculating the loan EMI beforehand can help you plan better. Use Navi’s personal loan EMI calculator for quick and hassle-free EMI calculations.
- Repayment capacity: You must always check whether you have the capacity to repay the loan. Missed EMI payments can lead to loan default, which might hurt your credit score and creditworthiness.