Goans turn to loan apps for quick financing

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Apps that offer banking services are finding takers during the ongoing pandemic with customers who need loans for medical or family emergencies turning to app-based loans. These loans are completely online, hassle-free and instant experience.

Recently Bengaluru based NBFC, Navi Finserv, said that, Goans are giving good response to the company’s Navi app that offers instant and contactless personal loans.

The app which was launched in June received an overwhelming response in cities like Panjim. According to the company, the app is aimed at middle-income customers  who are comfortable with smart phones and technology. It provides instant loans of up to Rs 5 lakhs with tenures of up to 36 months, via a completely digital and contactless process. Customers can download the  app on Google Play store, can check their eligibility, select the loan and EMI amount, and enter their PAN and Aadhaar number to receive the loan amount in the bank account within minutes. The process is entirely paperless and does not require uploading of any documents like payslips or bank statements.

According to Samit Shetty from Navi “We have received an excellent response from Goa. Customers in the state availing loans up to Rs 5 lakhs to tide over their need is a sign of comfort and confidence with the app. Our technology platform is built for scale with an emphasis on leveraging AI and machine learning. 

Founded by Sachin Bansal and Ankit Agarwal, Navi Finserv is a part of the Navi Group.