Navi Home Loan Highlights | |
| Interest Rate | 8.74% p.a. onwards |
| Loan Amount | Up to Rs 5 crore |
| LTV Ratio | Up to 90% |
| Loan Tenure | Up to 30 years |
| Processing Fees | NIL |
Note: Rates as of 31 January 2023
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Table of Contents
Navi Home Loan Interest Rates
The interest rates of Navi home loan start @ 8.74% p.a. The final interest rates offered to the applicants depending on age, monthly income, job profile, credit score, loan repayment history, employer’s income, etc.
Compare Navi Finserv Home Loan Interest Rates vs Other Lenders
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.60% - 9.50% | 8.60% - 9.40% | 8.60% - 9.40% |
| HDFC | 8.65% - 10.35% | 8.65% - 10.60% | 8.65% - 10.70% |
| LIC Housing Finance | 8.65% – 10.10% | 8.65% – 10.30% | 8.65% – 10.50% |
| ICICI Bank | 8.75% - 9.85% | 8.75% - 9.85% | 8.75% - 9.85% |
| Kotak Mahindra Bank | 8.65% onwards | 8.65% onwards | 8.65% onwards |
| PNB Housing Finance | 8.75% - 14.50% | 8.75% - 13.00% | 8.85%-10.85% |
| Punjab National Bank | 8.60% - 9.35% | 8.55% - 9.25% | 8.55% - 9.25% |
| Bank of Baroda | 8.60%-10.35% | 8.60%-10.35% | 8.60%-10.60% |
| Union Bank of India | 8.60% – 10.50% | 8.60% – 10.70% | 8.60% – 10.70% |
| IDFC First Bank | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| L&T Housing Finance | 8.65%-8.75% | 8.65%-8.75% | 8.65%-8.75% |
| Bajaj Housing Finance | 8.75% onwards | 8.75% onwards | 8.70% onwards |
| Godrej Housing Finance | 8.64% onwards | 8.64% onwards | 8.64% onwards |
| Tata Capital | 8.95% onwards | 8.95% onwards | 8.95% onwards |
| Federal Bank | 8.60%-9.95% | 8.60%-10.00% | 8.60%-10.05% |
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Navi Home Loan Fees & Charges
| Particulars | Charges |
| Processing Fee | NIL |
| Legal and Valuation Charges | NIL |
| Login Fees | NIL |
| Administrative Fee | NIL |
| Loan Cancellation Charges | Rs 15,000 |
| Cheque Bounce | Rs 500 |
| EMI Bounce Charges | Rs 3,000 |
| Penal Interest (Late Fee Charges) | 2% per month for the outstanding EMIs |
| Pre-payment, Foreclosure – Fixed Rate home loan | 2% of the amount prepaid during the period of applicability of the fixed interest rate |
| Rate Change- Fixed to Floating | Up to 0.25% of the Principal Outstanding and undisbursed amount (if any) at the time of conversion or a cap of Rs 25,000 plus taxes whichever is lower |
Eligibility Criteria for Navi Home Loan
Navi Finserv has not clearly stated the eligibility criteria for its instant approval for home loan. Individuals wishing to avail home loan from Navi Finserv can download the app and submit details regarding the property, PAN, age, etc to find out their home loan eligibility.
Property Type: Independent homes and apartments
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Documents Required for Navi Home Loan
Documents required for verification:
- Government-issued identity proof of the borrower (if any)
- Address proof issued by the government (Aadhaar card, Voter ID card, passport, driving license, etc.)
- Last 6 months bank account statement
- Property-related documents
- Duly signed application form with photograph
Property-Related Documents:
- Allotment letter, sales deed, or stamped agreement of sale
- Occupancy certificate in case of constructed apartments
- A comprehensive estimate of the construction cost
- No Objection Certificate (NOC) from the housing society/builder
- Possession certificate and tax receipt for the plot received from the land revenue department
Additional documents required for a home loan balance transfer
- Loan agreement letter
- Home loan statement
- Existing loan providers’ approvals (foreclosure letter, NOC, and No Objection Certificate)
Additional documents required in case the applicant is an NRI:
- General power of attorney
- Valid work permit
- Copy of work visa along with passport
- Proof of overseas residence
Navi Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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