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 ₹3,00,000 Interest rates: 12% to 32% per annum (on a reducing balance basis) Tenure: 6 to 36 months Processing fees: 1.5% to 8.9% (Min ₹750+GST & Max ₹8,900+GST) Loan Calculation Example: Disbursal Amount (Amount to be received in account): ₹1,20,001 Monthly EMI: ₹9,975 Interest Rate: 19.99% P.A Resultant Tenor: 14 months Processing Fee: 2.5% of Loan Amount = ₹3091 GST on Processing Fee: 18% of Processing Fee = ₹3091*18% = ₹556 Total Loan Amount: Disbursal Amount (₹1,20,001) + Processing Fees (₹3091) + GST on Processing Fee (₹556) = ₹1,23,648 Total Amount Repaid: ₹9,975 (EMI) * 14 months (Tenor) = ₹1,39,650 Total Interest = Total Amount Repaid (₹1,39,650) - Total Loan Amount (₹1,23,648) = ₹16,002 (19.99% on a reducing basis) Repayment Schedule 1st EMI -> 2nd Jan 2022 2nd EMI ->2nd Feb 2002 Loan Ends on 03 Feb 2023 Penalties for delayed payment of EMIs Payment delays may incur penalties in accordance with the lending partner's 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/affiliates Payu Finance India Private Limited (Formerly Known As Sidvik Leasing Pvt. Ltd.) - https://www.payufin.in/ Muthoot Finance Limited - https://www.muthootfinance.com/personal-loan L&T Finance Limited - https://www.ltfs.com/our-products/consumer-loan Aditya Birla Capital Limited - https://finance.adityabirlacapital.com/our-digital-lending-platform-partners Kisetsu Saison Finance (India) Private Limited - https://creditsaison.in/partnercontact/