We (NiyoX) have very recently started offering personal loans in tie-up with our lending partner Prefr. 

You first need to follow some simple steps to see if you’re eligible for a loan (and if yes, upto how much):

  1. Menu > “Personal Loans” > “View Loan Offer”.
  2. Give the required permissions and click “Confirm”. Prefr (lending partner) needs permission to check your basic details, check your credit score, and check your SMS for financial and transactional data. This helps them understand your income, expenses, how risky you may be to offer loans, etc.
  3. Enter your basic details (such as employment type, salary, and address).
  4. Within 2-3 minutes, you will be informed whether you are eligible for a personal loan or not.

If you are eligible

  1. You will be shown upto how much loan you can get and the range between which the interest rate may be. If you wish to proceed, you can click “Get Loan Now”. 
  2. Select the amount and duration of the loan. You will be shown the interest rate, and charges (if any) accordingly.
  3. Complete KYC - you need to enter basic information, click a live selfie, and select your bank account that will be used to repay the loan (this will get verified).
  4. Set up an auto-debit for this bank (it’s a simple digital process that we’ll help with).
  5. Go through the terms and conditions and click “I agree”. You will get a loan within 2-4 working hours.

If you are not eligible for a loan, then you will not be able to take it from us. You can try again after 60 days if you wish to.