Question 1

What is the Navafi Rate Index?

Accepted Answer

The Navafi Rate Index is a personalised interest rate system that sets your indicative borrowing rate based on five factors: your repayment history (35%), credit bureau score (25%), declared and verified assets (20%), real-time market demand (10%), and time of day (10%). Borrowers who repay on time progress through tiers — Bronze, Silver, Gold, and Platinum — each unlocking progressively lower rates. Platinum borrowers can access rates from 13.5% p.a.

Question 2

Does checking my rate affect my CIBIL score?

Accepted Answer

No. Checking your indicative rate on Navafi uses a soft credit enquiry, which does not affect your CIBIL or credit bureau score. A hard enquiry is only made after you proceed with a formal loan application and consent to a bureau pull.

Question 3

Who actually lends the money — Navafi or an NBFC?

Accepted Answer

Navafi Financial Services Pvt Ltd is a technology platform and Loan Service Provider (LSP). All loans are originated, sanctioned, and disbursed by RBI-registered NBFC lending partner(s). Navafi is not a lender. Details of the lending NBFC are disclosed at the loan offer stage.

Question 4

What is the minimum CIBIL score required for a Navafi loan?

Accepted Answer

Navafi does not publish a minimum CIBIL score threshold. The Navafi Rate Index evaluates multiple factors including repayment history, income, assets, and engagement. Applicants with lower bureau scores may still qualify, though at different rates. Checking your eligibility does not impact your credit score.

Question 5

How quickly is the loan disbursed?

Accepted Answer

For eligible applicants, Navafi targets same-day disbursal after e-signing and NACH mandate setup. Typical time from application submission to credit decision is under 5 minutes. Disbursal timing is subject to bank processing hours, NEFT/IMPS availability, and NACH activation.

Question 6

What documents do I need to apply?

Accepted Answer

You need: (1) Aadhaar number for KYC, (2) PAN card, (3) income proof — bank statements are fetched automatically via the Account Aggregator framework with your consent, so no PDF uploads are required for salaried applicants. Self-employed applicants may need to share GST returns or ITR.

Question 7

What are the charges if I repay early?

Accepted Answer

Navafi charges nil prepayment penalties after the first 6 EMIs. Prepayment within the first 6 months may attract a fee as specified in the loan agreement. There are no hidden charges — all fees are disclosed in the Key Fact Statement (KFS) provided before disbursement.

Question 8

What is Kira?

Accepted Answer

Kira is Navafi's AI loan advisor — a conversational AI that guides borrowers through the entire loan application in a chat or voice interface. Instead of filling out forms, you have a conversation with Kira. Kira checks your eligibility, explains your rate, helps with documents, and answers questions 24/7 in plain language.

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