Every now and then, each one of us faces a financial compulsion that persuades us to seek a loan on an urgent basis. Be it any medical emergency, child education, marriage expenses, home renovation, or business expansion, loan options like instant cash 5 Lakh loan from Navi will help you in these situations. Availing a personal loan of 5 lakh from Navi is simple, affordable, and seamless. You just need to download the app from the Play Store and get your loan approvals in under 20 minutes.
We are one of the few loan processing apps that offer instant 5 lakh loans quickly, simple, and seamless. At Navi, you just need to follow these 6 easy steps to get your 5 lakh loan approved in no time:
After you submit your application, it will be processed internally, the CIBIL score will be checked, and if everything seems fine, you can get the instant 5 Lakh loan in a matter of minutes.
Here are a few salient features of instant 5 Lakh loan disbursal by Navi:
Eligibility for Instant 5 Lakh Loan:
Age: | 18 – 65 years; might vary in some cases. |
Income | Must have a steady income source; Minimum income will vary as per loan amount. |
Occupation | Both self-employed and salaried employees are eligible for a 5 Lakh loan. |
Interest rates | Depends on the loan amount, duration, and lender’s convenience |
Credit score | For availing 5 lakh loan at Navi, you should at least have a credit score of 650 |
However, the Navi app uses NexGen technologies like AI and machine learning to assess your eligibility before sanctioning the loan amount. Just download the app and check your eligibility.
In general, whenever you apply for a personal loan, the lender will ask for a whole set of documents, including bank statements, salary slips, address details, and many other forms. However, the Navi app offers a 5 Lakh loan with the minimum amount of documents. You just need to enter 3 things:
Once you enter these details, our AI-based system will automatically redirect you to the sanctioning page. Of course, there is a minimum eligibility requirement. You can redeem the instant cash 5 Lakh loan in under 20 minutes. You can easily check your monthly EMI amount and other loan-related numbers using the Navi loan calculator.
In general, the maximum loan amount that one can get is 10 times his/her monthly income. Again, this is not the only criteria. You can check the details of your eligibility and maximum loan amount that you can avail of the Navi app.
The EMI of a loan is dependent on the tenure and interest rate of the loan amount. You can calculate the EMI of your 5 Lakh loan using the EMI calculator at Navi.
Yes, personal loans can be availed for startups or for opening small businesses like shops, restaurants, etc. You can also use a personal loan of 5 lakh on business expansion, travel, or any other need.
It depends mostly on the lenders whether they allow the prepayment of the loan or not. Many a time, lenders ask for pre-settlement charges. However, with Navi, you can settle or close your loans whenever you want.
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