We (NiyoX) are starting to offer personal loans (unsecured loans - loans that don’t need any collateral) in tie-up with our lending partner Prefr (it’s similar to how we have tied up with Equitas bank for a savings account).
This is a safe and quick digital process of obtaining a loan. If you are eligible for a loan, then
- We are offering loans between Rs. 10,000 to Rs. 3,00,000.
- The interest rate on these loans starts from 16%.
- The loan duration can be between 3 months to 36 months (3 years).
This is a very new feature, so only a few customers may see this option. However, with time, we will release this to more and more customers.
If you are interested in taking a loan, then you just need to fill in some basic information, allow certain permissions (for Prefr to check details, assess your risk, etc) and the app will let you know if you are eligible for a loan.
If yes, it will show you upto how much you can borrow. You can then decide the duration, and your interest rate may vary depending on the amount, duration, risk profiling by our lending partner, etc.
If not, then you can try again after 60 days.