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Sachin Bansal co-founded Navi has launched Navi Lending App for instant personal loans up to ₹5 lakh. “Aimed at Indians in the middle-income segment who are comfortable with smartphones and technology, the Navi app provides instant loans of up to ₹5 lakh with tenures of up to 36 months, via a completely digital and contactless process for customers,” the company said in a release on Wednesday.
It is available for download on the Google Play store and customers can check their eligibility, select the loan and EMI amount, and enter their PAN and Aadhaar number to receive the loan amount in their bank account. The process is paperless and does not require uploading of any documents like pay slips or bank statements, it further said.
The app was launched in Beta mode in April, but has now been launched officially.
Samit Shetty, CEO, Navi Finserve, said the company is now scaling the app to 150 cities across the country.
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