Navi Finserv, an RBI-registered NBFC with about a decade of lending experience has launched a new feature that enables customers to easily transfer their outstanding home loan balance to Navi and enjoy a high-value top-up loan via a user-friendly app. Customers can now get up to a 5% reduction in interest rate compared to the current rate on their existing home loans from other banks or NBFCs. Borrowers can significantly save, reducing their monthly installments by transferring their outstanding home loan balance to Navi.
Riya Bhattacharya, CEO, Navi Finserv, said, “Our vision is to make home loans more affordable and accessible to many more customers. The new balance transfer and a top-up loan facility from Navi will now allow existing home loan borrowers to derive significant savings on their monthly EMIs. For example, a customer has an outstanding home loan balance of INR 50 lakhs at an interest rate of 12% from an existing lender. If the customer avails the balance transfer with Navi and is offered a lower interest rate of 7%, it leads to a saving of 32% in the monthly EMI.” Navi provides loans from INR 10 lakhs to INR 1.5 Crores with tenure of up to 25 years and an interest rate starting at 6.95%.Customers can download the Navi App on Google Play Store and Apple App Store or call on +91 80108 33333 and get instant approval in 5 minutes on validation of the loan application through a completely digital process. Navi provides home loans worth 90% of the property value without any processing, legal, and administration fees to customers. Navi home loans are currently available to customers in Karnataka and the Greater Hyderabad region covering Hyderabad, KV Ranga Reddy and Medak. The company is hiring at least 15 people including branch managers, relationship managers and branch credit team at their new Hyderabad office to serve customers better.