Navi app has become quite popular in India as a one-stop financial services platform. It offers various features like mutual funds, insurance, loans, credit monitoring etc. One interesting aspect of Navi app is its referral program through which users can earn money. In this comprehensive guide, NaoTotNhat will understand what is Navi app, how its referral program works, and most importantly – how to withdraw the referral money earned from it.
What is Navi app? Is Navi Real Or Fake?
Navi is a financial services platform founded in 2018 by Sachin Bansal along with Ankit Agarwal and Bharat Jaisinghani. Sachin Bansal is the co-founder of Flipkart and invested $400 million into this startup.
Navi offers various financial products on its app including:
Overview of Products
- Mutual funds – Users can invest in mutual funds across categories like equity, debt etc. completely online.
- Insurance – Term life, health and motor insurance plans are available from trusted insurance partners.
- Loans – Personal loans, home loans, credit line and other lending products through partnership with banks and NBFCs.
- Credit Score and Report – Free credit score and report to help consumers monitor their credit health.
Security and Reliability
- Navi is registered with RBI and follows security protocols as per industry standards.
- It partners with well-known financial institutions like HDFC, Aditya Birla Finance, Cholamandalam etc.
- Received positive feedback from users regarding service quality.
- Backed by marquee investors like Flipkart’s founders, Sequoia, Ribbit Capital etc.
So Navi is a credible platform and not a fake app. It aims to provide financial inclusion using technology and offers useful products for investment, insurance, credit and more.
What Is Navi Referral Program?
The Navi app has an attractive referral scheme to incentivize existing users to refer their friends and family to the app. Here are the key details:
How Does It Work
- Existing Navi users can invite friends via SMS/Email by entering their phone number/email ID
- When the referred user downloads the app using the referral link and completes specified actions like KYC, the referrer gets money directly in their Navi account
Referral Incentives
- Rs. 100 for each friend who signs up and completes KYC
- Additional Rs. 50 if the new user purchases any financial product within 30 days
- No upper limit on how many people an existing user can refer
So by referring more people to use Navi app, you can continuously earn referral cash rewards. The money keeps getting credited directly into the referrer’s Navi account.
How to make referral money on Navi app
Referring people to Navi app and earning money is easy. Just follow these steps:
Step 1: Create Navi App Account
- Download and register on Navi App using your mobile number
- Set a password and complete your KYC process by uploading documents for verification
- KYC completion is mandatory to earn referral income
Step 2: Access Referral Section
- In Navi app, go to the Profile section and tap on “Refer & Earn”
- This will open up the referral dashboard where you can check money earned or generate/share referral links
Step 3: Share Referral Link
There are 2 ways to refer Navi app:
SMS Referral
- Go to SMS referral section and enter phone number of friend/family member
- Custom SMS with download link will be automatically sent from your number to them
Email / Other Channels
- Tap on “Copy Link” to copy your unique referral link
- Share this link directly with contacts via WhatsApp, Email etc.
When they use this link to download and register on Navi, you will earn Rs. 100 referral cash bonus immediately!
How to withdraw referral money from Navi app
The referral money earned can be easily withdrawn from Navi app to your bank account. Follow these steps:
Step 1: Login to Navi App
Open Navi App and login using your registered mobile number and password
Step 2: Go to Profile Section
- From the bottom navigation bar, tap on the “Profile” icon
- This will open your Navi account’s profile page
Step 3: Tap on Money Withdrawal
- Scroll down and tap on “Money Withdrawal” option
- Enter the amount you want to withdraw
- Minimum amount for withdrawal is Rs. 50
Step 4: Submit Withdrawal Request
- Select bank account registered in the app
- Submit the withdrawal request and enter OTP to confirm
The money will directly get transferred from your Navi wallet to your bank account within 1-2 working days.
So in just a few simple steps, you can withdraw the referral cash earned into your bank account conveniently.
Why can’t I withdraw referral money from the Navi app?
While the Navi app makes it easy to withdraw referral earnings, sometimes users may face issues. Some common reasons why you may not be able to withdraw money:
KYC Not Completed
As per RBI guidelines, KYC completion is mandatory for financial transactions including withdrawals. If your KYC is pending verification or under process, withdrawals get temporarily blocked.
Solution:
Complete your KYC by uploading documents and make sure it shows as “Verified”. Then withdrawal option will be enabled.
Pending Bonus
Even if the referral sign up is completed, the bonus may show as pending due to technical issues and take some extra time to reflect in wallet balance.
Solution:
Wait for 2-3 working days for it to process before trying to withdraw. You will get notified when bonus is credited.
Account Not Active
If you have not performed any transactions for long time, Navi may block withdrawals to prevent misuse as per compliance regulations.
Solution:
Do a small transaction like adding money into wallet to reactivate your account’s withdrawal ability.
How long does it take to receive referral money from the Navi application?
The Navi app credits referral bonuses quickly into the referrer’s account. Here is the typical timeline:
Referral Registration Bonus
- When a referred user signs up successfully, Rs. 100 is credited instantly on their KYC completion
- Reflects in referrer’s Navi wallet under 1-2 working days
So you don’t need to wait long to receive this initial referral amount.
Additional Actions Bonus
- If referred user also purchases a Navi product within 30 days, additional Rs. 50 is awarded
- Takes 3-5 extra working days to be credited after purchase confirmation
In total, within a week’s timeframe, you would get the entire referral money into your Navi app wallet from where you can withdraw it.
Conclusion
The Navi app offers a lucrative way for existing users to earn from referrals. By getting friends and family to download and register on Navi using your referral code, you can earn up to Rs. 150 per person easily. The amount gets credited quickly into the in-app wallet from where it can conveniently be withdrawn into bank account. So take advantage of it to earn some nice pocket money!