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Get instant personal loans up to ₹20 lakh by Navi App

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Navi is a mobile app that offers instant personal loans to its users in India.  The app is owned and operated by Navi Finserv Pvt. Ltd., which is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI).

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Navi Loans offers personal loans up to ₹20 lakh with a repayment tenure of up to 72 months. The interest rates on Navi Loans are relatively competitive, starting from 9.9% p.a. The app also offers flexible repayment terms, so you can choose a repayment plan that fits your budget.

To apply for a Navi Loan, you need to download the Navi app and create an account. You will need to provide some basic information, such as your name, address, PAN, and income details. Navi will then assess your eligibility for a loan and you will be notified of the decision within minutes.

If you are approved for a loan, the money will be disbursed directly into your bank account. You can use the money for any purpose, such as paying off debt, making a big purchase, or simply consolidating your finances.

Here are some of the pros and cons of Navi Loans:

Pros:

  • Instant personal loans: Navi Loans offers instant personal loans up to ₹20 lakh.
  • Flexible repayment terms: Navi Loans offers flexible repayment terms of up to 72 months.
  • No collateral required: Navi Loans does not require any collateral for its loans.
  • Easy to apply: The application process for Navi Loans is simple and quick.

Cons:

  • High interest rates: The interest rates on Navi Loans are relatively high.
  • Early repayment charges: There are early repayment charges on Navi Loans.
  • Credit score impact: Taking a loan from Navi can impact your credit score.

Overall, Navi Loans is a good option for people who need quick access to cash and have a good credit score. However, it is important to be aware of the high interest rates and early repayment charges before taking out a loan from Navi.

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Here are some of the alternatives to Navi Loans:

  • MoneyTap: MoneyTap is a mobile app that offers instant personal loans up to ₹5 lakh. The app is regulated by the RBI and does not require any collateral.
  • Credify: Credify is a mobile app that offers instant personal loans up to ₹5 lakh. The app is regulated by the RBI and does not require any collateral.
  • EarlySalary: EarlySalary is a mobile app that offers instant salary advances up to ₹2 lakh. The app is regulated by the RBI and does not require any collateral.

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