Niro - Credit by Invite Only!

Features Niro - Credit by Invite Only!

Niro is an Instant Personal Loan App in India.
Avail personal loan at attractive interest rates with a hassle-free experience.
Whether you’re salaried or self-employed, you can get instant funds - anytime, anywhere!While our exact interest rates, processing fees etc.
are primarily derived of the credit history of the borrower, they fall within the following ranges: Loan amount: ₹50,000 to ₹3,00,000Interest rates: 12% to 32% per annum (on a reducing balance basis)Tenure: 6 to 36 monthsProcessing fees: 1.5% to 8.9% (Min ₹750+GST & Max ₹8,900+GST)Loan Calculation Example:Disbursal Amount (Amount to be received in account): ₹1,20,001Monthly EMI: ₹9,975Interest Rate: 19.99% P.AResultant Tenor: 14 monthsProcessing Fee: 2.5% of Loan Amount = ₹3091GST on Processing Fee: 18% of Processing Fee = ₹3091*18% = ₹556Total Loan Amount: Disbursal Amount (₹1,20,001) + Processing Fees (₹3091) + GST on Processing Fee (₹556) = ₹1,23,648Total Amount Repaid: ₹9,975 (EMI) * 14 months (Tenor) = ₹1,39,650Total Interest = Total Amount Repaid (₹1,39,650) - Total Loan Amount (₹1,23,648) = ₹16,002 (19.99% on a reducing basis)Repayment Schedule1st EMI -> 2nd Jan 20222nd EMI ->2nd Feb 2002Loan Ends on 03 Feb 2023Penalties for delayed payment of EMIsPayment delays may incur penalties in accordance with the lending partners policy.In addition, for each bounce, we may charge a one-time flat fee of 499/-.Niro is not a registered NBFC or bank and offers these loans in partnership with select lending institutions.
The exact lending institution extending the loan will be displayed while the user is being presented with the loan terms.
Currently Empanelled Lending Partners are listed below: NDX P2P Private Limited (Liquiloans) - https://www.liquiloans.com/affiliatesPayu Finance India Private Limited (Formerly Known As Sidvik Leasing Pvt.
Ltd.) - https://www.payufin.in/Muthoot Finance Limited - https://www.muthootfinance.com/personal-loanL&T Finance Limited - https://www.ltfs.com/our-products/consumer-loanAditya Birla Capital Limited - https://finance.adityabirlacapital.com/our-digital-lending-platform-partners