Frequently asked Questions
PayNav is a relationship-based lending mobile platform that allows you to securely lend and borrow money with friends and family. It is a secure lending platform that simplifies loans between friends and family.
Paynav is for everyone amongst you who wants to secure the money if they are expecting a secure return, at the same time anyone who needs money and wants to show high level honesty of paying back exactly on time. Anyone above the age of 18 years can sign up to use our services and get digital e-signature along with loads of value adding features for free.
We maintain gold standards with security and use best practices. The privacy and security of your data is our top priority. We outline our policies and practices in our Terms of Service and Privacy Policy
We use PanCard to verify users and create a risk free financial environment from fake profiles.
No, we don’t use your Pan Card details without your consent. We use it only after taking 2 step permission from you.
Yes both the giver and the requestor needs to have PayNav to complete the whole process.
It is just like a paper based agreement document done digitally and valid same as a paper based agreement.
Yes, in some cases, Physical verification at both residential and official addresses is undertaken after prior appointment. This is undertaken to verify the identity of the user.
The minimum amount is 100 and maximum amount is 1,00,000 INR. It sometimes depend on the amount permitted by your UPI app and the bank to transact.
PayNav is a relationship-based mobile lending app that allows users to lend and borrow money with known or existing relationships and verified contacts in your mobile device. The lender or borrower must be an existing contact in your mobile device and PayNav will verify their identity before providing access to the platform. This is a security feature to protect the integrity and security of PayNav users.
We use your UPI id to transfer funds into your bank account.
No one can see your UPI Id, it is used only for transferring funds to your bank account, so please take utmost care while filling the UPI details.
Sometimes the transactions don’t get reflected because of upi low down. You can submit your bank statement of money deducted then we can help you forward. Its proof for now and future use that you actually transferred the money.
Yes. You can be a Giver or a Beneficiary at a given time.
You will get the fund immediately as we are powered by UPI.
PayNav is not a crowdfunding platform. All transactions on the PayNav are private, one-to-one between two known users that have been verified.
Yes you can pay early to the giver, We just want you to pay him back , Thank you 😃😃.
The documents are required to identity-verify, credit-check and risk-assess a beneficiary before registration. Apart from the CIBIL score, we use various other parameters like, ability, stability, past performance and intention of the beneficiary, which are evaluated on the basis of these documents. The documents provided like salary slips, bank statements, ITR’s, balance sheets etc. help in taking a collective and transparent decision ensuring a fair field for the beneficiary.
We do not show anyone’s address to prevent harassment. Not only that no-one can access your profile. Only your eligibility chart will be shown with your pros and cons at the time of giving money by the giver.
Beneficiaries are morally and legally obliged to pay all dues by promised payback time.You will be marked on your credit strength, this non - repayment will be mentioned to other people you transact with. You may face consequences due to e-signature. This may affect your future loans. You may be charged dynamic platform fees till you return. Mainly you will lose the trust of your dear one and will be reflected on your credit mark forever.
The tenures are fixed by the users on mutual understanding. We don’t interfere in between the users.
We only charge the late fees if advance taken from the giver is paid after the promised date. Which will be dynamic.
No, UPI is the mode of transfer for right now.
a) PayNav is not a lender and does not offer or provide any loan guarantees or repayment guarantees. All loans made on the PayNav mobile app are personal loans based on trusted relationships with your friends, family, contacts and trusted relationships. b) PayNav provides a system to automate the repayment process and encourages all borrowers to repay all loans per the agreed payment schedule. Automatic reminders and notifications are sent to all users throughout the loan period.
We are working on this feature. Will update if we come with one. For now, no the loan can’t be forgiven.
You can’t choose the date of repayment but you can decline if the date requested doesn’t suit your terms.
No PayNav doesn't encourage users to charge any rate of interest on the money given through the platform.
PayNav provides a unique opportunity to help your loved ones in need, without the fear of losing the money. You can help everyone you know without the guilt of begging your own money back. Relations foster with goodwill you achieved. The people around you come to your own rescue when you stand for them in their needs. The process is mutually beneficial and is a win-win situation for both parties. However, please read the Terms and Conditions to understand the risk involved.
Social Credit Strength is a tool to determine your credit score and honesty to society. It helps a common man not to get scammed by others. It determines your eligibility to repay the money, it depends on multiple parameters and some of them include the documents you submit to prove your worthiness and also it gets affected if you take money from people and don't pay back.
We are working on this feature. “ Request extension for a due date”. Extension of time is solely decided by the giver.
It is extremely easy to request money through PayNav. Just click on the “Request” tab on your App. Select the person whom you want to ask money. Fill the money and payback details. Promise by e-signature to payback. Once the Giver accepts the request, accept the terms and you are done. In case of any issue, please reach out to your partner or write to us at
No, you can’t. But we will come up with a feature for this.