Navi Finserv Launches App-Based Home Loans in Mumbai, Delhi, Noida & Gurugram

Navi Finserv (Navi) announced that it has recently launched its quick and affordable retail home loans via the Navi Lending App in Mumbai, Delhi, Noida and Gurugram. Navi will provide home loans of up to INR 5 Crore for tenures of up to 25 years and interest rate starting at 6.46% per annum, which is amongst the lowest rates in the industry. Eligible customers can avail loans for as much as 90% of the property value. Customers who apply directly on the app can avail an additional cashback incentive of 0.5% of the loan amount that is disbursed by 31st Jan 2022.

Customers can download the Navi Lending App on Google Play Store and Apple Store, select the ‘Home Loan’ button, and complete the paperless journey to check their eligibility, and immediately receive the home loan offers as per the eligibility criteria. The loan sanction process is entirely digital and paperless, offering customers a simple, transparent and speedy option for home loans. Loans offered by Navi can be availed to purchase ready-to-move-in homes, under-construction properties, for self-construction, as well as loan against property. Customers can also transfer balance from other lenders and avail top-up on the same with Navi.

According to a company spokesperson, “We believe in a customer-first approach and leveraging technology to give customers a completely new experience while taking home loans. Some of our innovations include instant approval of home loans and the ability to do pre-payments via the Navi app without any prepayment charges. Launched in February 2021, our Home Loans category has already sanctioned loans of approximately INR 250 Crore within its first year of operations and on receiving this great response, we are thrilled to now bring home loans to new geographies at low interest rates. We are committed to continuously making loans and other services more simple, affordable and accessible for customers.”