In today’s digital age, earning extra income through apps and fintech platforms is becoming increasingly popular. Navi, an emerging player in the Indian financial space, offers a wide range of financial products that can help users earn up to ₹15,000 or more each month. Whether you’re looking to generate passive income, build wealth, or simply meet your financial goals, Navi provides accessible and straightforward ways to do so.
we’ll explore the key offerings from Navi and how you can leverage them to start earning ₹15,000 or more per month.
What is Navi?
Navi is a financial services company founded by Sachin Bansal, co-founder of Flipkart, aimed at making finance and investing easier for the everyday Indian. Navi provides services across various financial sectors including personal loans, health insurance, home loans, mutual funds, and digital gold. What makes Navi stand out is its user-friendly app interface and seamless online services, which allow users to manage their finances without the usual red tape associated with traditional financial institutions.
1. Invest in Navi Mutual Funds
Mutual funds are one of the best ways to grow your wealth passively, and Navi has made it easier than ever to invest in mutual funds through its app. Navi offers low-cost index funds that track benchmark indices like Nifty 50 and Sensex. The expenses on these funds are significantly lower than actively managed funds, which can help maximize returns over the long run.
How to Earn:
- Start Small: You can begin with a Systematic Investment Plan (SIP) with as little as ₹500 per month. As the investment grows, so will your returns.
- Potential Returns: With the right market conditions and a well-diversified portfolio, mutual funds can yield returns of 10-15% annually. Depending on your investment amount, this could generate a substantial monthly income over time.
Pro Tip:
Use Navi’s SIP calculator to estimate how much you need to invest monthly to reach your ₹15,000/month goal based on your expected return rate.
2. Apply for a Personal Loan and Invest Wisely
Navi offers personal loans with interest rates starting at 9.9% per annum. If used responsibly, taking a personal loan and investing it in higher return instruments can help you earn a passive income. For example, you could take out a loan and invest the amount in mutual funds, stocks, or even fixed deposits that generate returns higher than the loan’s interest rate.
How to Earn:
- Smart Borrowing: Borrow only what you need and can repay comfortably.
- Invest for Higher Returns: By investing in instruments with an average return of 12-15%, you can grow your borrowed capital into a stream of passive income, eventually helping you pay off the loan and earning a profit.
Caution:
Always ensure that you can repay the loan on time to avoid falling into a debt trap. Borrowing for investment is only advisable for individuals who are financially disciplined and understand market risks.
3. Earn from Navi Health Insurance
Navi offers affordable health insurance plans with comprehensive coverage, including COVID-19 treatment, hospitalization, and other health services. While you don’t directly earn from health insurance, you can save significantly on medical expenses. Saving on potential future health costs can contribute to your goal of earning an extra ₹15,000 per month, as it helps you retain more of your hard-earned money.
How to Earn:
- Reduce Medical Bills: With the right health insurance plan, you can avoid unexpected, high out-of-pocket medical costs. This indirectly increases your disposable income.
- Tax Benefits: Premiums paid for health insurance are eligible for deductions under Section 80D of the Income Tax Act, reducing your taxable income and saving money.
4. Navi Home Loans: Low EMI, High Savings
If you’re looking to purchase property or refinance your home loan, Navi offers home loans at competitive interest rates. While home loans are long-term commitments, choosing the right home loan can save you a significant amount on EMIs (Equated Monthly Installments), freeing up funds for other investment opportunities.
How to Earn:
- Reduced EMI Burden: Navi’s low-interest rates help you save money on your monthly EMIs, which can be reinvested to grow your wealth.
- Home as an Asset: Investing in property can yield rental income or value appreciation over time. Rental income can supplement your monthly earnings and help you achieve the ₹15,000 target.
5. Digital Gold Investment
Navi also allows you to invest in digital gold, an innovative and flexible way to buy gold without physical possession. Gold is historically a safe investment and often appreciates in value, especially during economic downturns.
How to Earn:
- Gold Appreciation: Gold tends to increase in value over time, providing you with long-term capital appreciation. Even small, regular investments in digital gold can accumulate into a significant amount.
- Liquidity: Digital gold can be sold at any time, making it a highly liquid asset. This liquidity can be handy when you need funds quickly.
6. Navi Refer & Earn Program
Navi has a “Refer and Earn” program where you can earn extra income by referring friends and family to use Navi’s services. Every time someone signs up through your referral and uses the app for loans, insurance, or investments, you can earn a commission or cash rewards.
How to Earn:
- Refer and Earn: Share your referral code through social media, WhatsApp, or email. The more people who sign up and use Navi, the more you earn.
- Scalability: If you build a strong referral network, this income stream can add up significantly over time, contributing to your goal of earning ₹15,000 per month.
How to Get Started with Navi
Getting started with Navi is simple and straightforward:
- Download the Navi App: The app is available on both Android and iOS platforms.
- Register and Verify Your Account: Sign up using your mobile number, and complete the KYC process for identity verification.
- Explore Navi’s Offerings: Navigate through the various financial products Navi offers—mutual funds, loans, insurance, and more.
- Start Investing or Borrowing: Based on your financial goals, start investing in mutual funds or apply for a personal loan, home loan, or insurance.
Final Thoughts
Earning ₹15,000 per month using Navi is achievable if you take advantage of the platform’s various offerings like mutual funds, insurance savings, digital gold investments, and the referral program. By strategically investing and managing your money, you can build a steady stream of income that grows over time.
Remember, patience and discipline are key when working towards financial goals. Consistent investments, smart borrowing, and leveraging Navi’s tools can help you reach your monthly income target, creating a more secure financial future.
