1. Smart Loan Choices

Our loan services provide a maximum borrowing amount of ₹1,00,000 with flexible repayment periods ranging from 91 to 360 days. The daily interest rate is set at 0.04%, equating to an annual percentage rate (APR) of 15.62%. Processing fees are capped at 2% of the loan amount.

For instance, if you borrow ₹30,000 for a 5-month (150-day) term at an APR of 15.62%, the processing fee would be ₹600, with an additional ₹108 GST on the processing fee, totaling ₹708 in upfront deductions. After these deductions, the disbursed amount would be ₹29,292. Over the course of the loan, the total interest payable would be ₹1,926. This results in monthly installments (EMI) of approximately ₹6,385. The total repayment amount at the end of the 5-month term would be ₹31,926.



2. Loan Amount Confirmation

The amount to be loaned out will correspond to the figure applied for by the borrower and subsequently confirmed by both the borrower and the lender as per the application process. This confirmation will lead to the enactment of the loan, adhering to the conditions specified within this agreement.


3. Loan Repayment Conditions

· Repayment Onset: The borrower shall commence loan repayments in accordance with the agreed terms and schedule from the date this agreement takes effect, continuing until the full repayment of the loan principal and interest.

· Penalty for Repayment Delays: If repayment is not made timely, interest on the overdue amount will be charged at the annualized rate mutually agreed upon from the date of delay until the complete clearance of the outstanding loan principal and interest.

· Provision for Early Repayment: The borrower holds the right to repay the outstanding loan balance, either partially or in its entirety, before the close of the repayment period.


4. Responsibilities of Navi Loan

a. Agreement on Loan Issuance: Navi Loan is obliged to transfer the loan amount to the borrower in a lump sum, as agreed upon in this contract.

b. Provision of Repayment Schedule: Navi Loan shall furnish a repayment schedule that includes detailed information on repayment intervals, amounts due, among other specifics, to ensure the borrower can fulfill repayment timely.

c. Assurance of Data Privacy: Navi Loan undertakes to keep the borrower's information and repayment details secure, with a commitment to non-disclosure and no misuse.



5. Borrower's Assurance

a. Agreement Compliance: The borrower fully understands this agreement and agrees to meet all its conditions and obligations.

b. Information Veracity: The borrower ensures the veracity, precision, and fullness of the provided information, without any falsehoods.

c. Fulfillment of Repayment: The borrower will adhere to the repayment timeline, settling the principal and interest in accordance with the plan laid out in the application.

d. Permit for Credit Examination: The borrower grants the loan service provider the authority to assess their creditworthiness and repayment potential as necessary.


6. Change in Agreement

All updates, changes, or supplements to the conditions of this Agreement necessitate drafting in a written format, which shall then be validated through the mutual agreement and signatures of the involved parties.


7. Contractual Breach Liabilities

a. Interest Penalties for Late Repayment: The Borrower incurs overdue interest penalties upon failure to meet the repayment schedule established in this Agreement.

b. Enforcement of Legal Responsibilities: Failure by the borrower to fully repay the loan and accrued interest on schedule empowers Navi Loan to enforce legal remedies to determine the borrower's liability. This enforcement may entail sharing the borrower's information with credit bureaus and filing lawsuits.