NAVI app review | Is the Navi loan app legit? Can you really get a loan of up to Rs 20 lakh instantly?

5/5 - (1 vote)

Emergencies have no pre-schedules, they always comes in sudden and destroys us mentally or physically both. But again, we can overcome most of these emergencies with the power of money. Money does hold that power, which can lead a wonderful and comfortable life for whole Mankind.

Today’s post is a crucial one. I am going to review Navi loan app which is in talks now. In this post, I am not promoting this app but briefing you about it by using my research. I hope you understood what I mean.

NAVI App Overview

FoundersSachin Bansal and Ankit Agarwal
FoundedDecember 2018
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Support[email protected]

What is NAVI app?

The Navi App is one of the well-known loan apps that offers personal loans, health insurance, and home loans to people online without any paperwork . This app is available in the Google Play Store as well as the Apple App Store. 

Eligibility for NAVI app loan 

NationalityMust be an Indian citizen
Age21 years
OccupationSalaried or self-employed
Minimum Loan AmountRs. 10,000
Maximum Loan AmountRs. 20 Lakhs
CollateralNot required
CIBIL or credit score750 or more
Document Required for NAVI app loan 
  • PAN card
  • Aadhaar card

NAVI app loan Interest rates, fees & other charges

Interest rates9.9% p.a onward
Loan Tenure3 to 72 months
Processing Fees3.99% to 6% (For loan of less than Rs.50,000) 
Foreclosure ChargesNIL
Late payment Penalty2% per month on the amount overdue
Prepayment Penalty2% to 5% of the remaining loan amount

Navi App Ratings

Earning Application Rating3/5
Google Play Store Rating4.2/5
Apple App Store Rating4.5/5

What NAVI app offers?

This Instant loan application offers not only loan but more than that. Let’s briefly talk about these features. NAVI app offers these 4 following features:

  • Instant Loan up to 20 Lakhs
  • Home Loan up to 5 Crore
  • Health Insurance
  • Invest in Mutual Funds

Instant Loan Up to 20 Lakhs

That sounds amazing isn’t it guys. 20 Lakh instant loan without less paperwork, quite a tasty offer from Navi app. You must be eligible for attaining this limit and by this I mean, Navi app has some eligibility criteria. There are many factors which concludes your extent to take loan.

If you are a salaried person you can definitely get a good limit but on the other hand, if you are an unsalaried person then Navi would definitely allow to borrow only up to 1 lakh or it might be less than that.

Home Loan up to 5 Crore

Next in the segment is the Home loan, you all might be weaving a dream to buy your own house but due to high price of properties or low sources of Income you are facing difficulties to own one. Getting a loan from bank or private loan sharks are kind of difficult to opt for, to solve this issue – Navi is offering exclusive Home loan up to 5 Crore. This is a good limit in comparison to other ways of getting loan.

There is no collateral required when opting for loan on any instant loan app so you don’t need to worry about that but there are some condition when it comes to Home loan from Navi. Not every property is eligible for loan as you are already aware of and not only this but Home loan does require some time and procedure.

Health Insurance

Navi app also offers Health insurance by which you can protect your loved ones and yourself. The basic plan that Navi offers starts from a monthly premium of 241* as mentioned on their official website. They have an attractive health cover of 1 Crore, which seems to be bluff but I have never tried this one so not sure.

Mutual Funds

The last feature that Navi app offers in the investing and earning one. Mutual funds have been in demand lately as people are willing to invest for some future returns but are they good? I am not going to comment here. If you are one of the investors in Mutual Funds, you can consider Navi app as a good platform for the same.

What is the interest rate of Navi app loan?

The interest rate varies when it comes to tenure. The longer is the time period, the greater will be the interest rate. On researching I came to know that Navi has a scary interest rate which arises from as low as 9% and goes higher up to 45%. This is insane isn’t it? This totally seems to be a red zone as you might get into such scheme. Also, The interest rate varies depending on the loan type..

Is Navi app safe?

When it comes to safety then I will gladly announce you that there are no instant loan app which provides 100% safety. Why I am saying this? Well, during my research I came to know that these instant loan apps ask for some serious privacy permission which includes access to all contacts or the access of your whole content of gallery. Just think about it Guys, you are giving access to the content of your gallery which holds your private of public related stuff and they are visible to some other 3rd party application.
How idiotic case would it be.

What happens if you don’t pay your Navi App Loan EMI on time?

This is not just for Navi app but for all the Instant loan apps out there- when you get late to pay your statement amount (even 1 minute) in the mentioned date and time interval, get ready to pay some hefty amount of fine. This is a real deal guys, if you are already a user of these apps, make sure you are punctual for the monthly payments.

NAVI app pros and cons


  • Get loan up to 20 Lakhs
  • Zero foreclosure charges
  • Good customer support


  • Interest rate is high
  • The processing fee of a NAVI app loan is 3.99% to 6% for loans amounting to less than Rs.50,000.
  • Minimum loan amount is 10 thousand.

Also read: Probo Review | Is Probo legit? Can You Earn Real Money from it?

Reviews of some NAVI app users

Positive reviews of some NAVI app users

Gayatru kanh 5/5

This is a good app only when you are sure that you are going to pay the EMI on time.

Varun sheik 4/5

I have been taking loans on this app for the last 2 years. I have never received any threatening calls or faced any problems.

Aina khan 5/5

This app was a lifesaver during the COVID-19 pandemic.

Negative reviews of some NAVI app users

Yatin budh 1/5

I had taken a loan of Rs 1 lakh from this app during the COVID-19 pandemic. Due to some issues, I got late repaying the loan. I started getting calls from debt recovery companies every day.

Priyanshu dev 2/5

I am getting calls from Navi app asking for someone else’s loan due. When I asked how he got my number, he told me that he got my number from a borrower’s phone contact list.

Manav sharma 1/5

Navi customer executive will call before the due date and ask for early payment.

Also read: The 10 Best Instant Personal Loan Apps in India

My words – Conclusion and Final verdict

Guys, I agree with moments like emergencies- where we are dire in need of money but seriously speaking- if you can borrow money from some friend of yours or your relatives that would be 1000 times better than using these loan apps. I am going to share an old post to mark my words – Just read this….

SourceTimes Of India

I am sure you have got my point of view over these loan apps. I am not completely stating these loan apps as garbage but it you have knowledge and are punctual for your doings then you can use Navi app for your personal loan.