Introducing quick
Personal Loans On NiyoX
Paper-Free. Follow up-Free. Stress-Free.
Get the money you need, when you need it!
With NiyoX smart Personal Loans, you don’t have to wait days for a decision, track down bank statements or deal with pestering phone calls.
The entire process is on your mobile — quick, simple, and secure!
100% paperless application
Get loan approval in 2 minutes
Get money in your account in less than 2 business hours
No credit history*
A loan for all your needs
Frequently Asked Questions
We appreciate your interest in availing a NiyoX Personal Loan. We have recently launched the Personal Loan product for a limited user base and we are working hard to make it available for you at the earliest.
NiyoX Loans is a personal loan product, offered in partnership with our lending partners. It allows you to borrow an amount from ₹10,000 – ₹3 lakhs depending on the loan amount approved by our lending partner.
You can avail this loan without any security or collateral in a completely paperless digital process.
You can check your loan eligibility in just 2 simple clicks.
Once your loan offer is generated, you need to complete the following steps to start instant disbursal
– Choose loan amount and EMI plan
– Upload your Selfie and submit repayment bank a/c details
– Complete paperless KYC and setup NACH on repayment a/c
– Sign the Loan agreement digitally and get the loan amount credited to your bank account
NiyoX offers personal loans up to ₹3,00,000 starting with EMIs ranging from 3 months to 36 months.
However, the loan amount and available tenors will be dependant on applicant’s credit profile and can vary for different applicants.
Rate of interest starts from 16% p.a.
However, final applicable Interest rate is decided basis applicant’s profile, income, occupation and repayment history.
You can check your loan eligibility in just 2 clicks by submitting your basic details on the NiyoX app.
• Individuals must be salaried by profession and should have monthly net salary greater than ₹20,000
• Available for individual(s) of Indian nationality of age over 22 years and less than 55 years
• Applicant must be residing in one of the 10600+ serviceable pincodes
EMIs will be auto-debited on a monthly basis from your bank account which has been selected by you for auto repayment setup during the loan application.
You can use the “Pay Now” button on our app to repay EMIs using other payment instruments like Debit cards, UPI or Net Banking etc.
Zero document uploads! We don’t ask for any document uploads in our loan application.
Once the loan is approved, money will be disbursed in your bank account within 2 hours
You will get your loan approval in under 2 minutes once you provide all the necessary details.
There is NO security that you have to keep with us to get a loan.
Yes, with NiyoX loans you can get a loan even without have any credit history. Loan can be offered basis the SMS on your device. Please ensure that while applying for loans you give permission to read SMS from your device.
Yes, you can close the loan by making the complete loan repayment before the last EMI date*.
Please follow the following steps
- Download the HFCL Service app or visit HFCL website – https://www.herofincorp.com
- Follow the below steps:
HFC website > CUSTOMER SECTION > RETAIL > PAY ONLINE - Select any payment method (other than Paytm) and click on PAY NOW
Once your request is processed successfully, it usually takes 3-4 working days to get reflected on your Loans dashboard.
*Please note that an application for loan foreclosure can only be filed after 6 months from the date of loan disbursal.
Yes, foreclosure charges equivalent to 5% of the outstanding loan principal amount + 18% GST will be charged in case an applicant closes the loan before the last EMI date.*
*Please note that an application for loan foreclosure can only be filed after 6 months from the date of loan disbursal.
Yes, every loan amount and loan tenure has an associated interest rate. You can lower your interest rate by opting for a higher loan amount and a longer loan tenure.
Yes, you can choose the loan duration at time of selecting the loan amount while completing the loan application. For each loan amount, you will be shown one or more available tenors and you can only choose amongst those available options.
A personalized loan offer will be valid for a period of 30 days from the time of offer generation. Once your loan offer gets expired, you will be required to check your eligibility again.
It is however recommended to complete your loan application as soon as the offer is generated .
No, EMI dates can not be changed and will be auto-debited from your bank a/c on 5th of every month.
A personalized loan offer is valid for a period of 30 days from the time of offer generation. Don’t worry! you can generate a fresh loan offer anytime after the previous offer expires.
You can check your eligibility again after a period of 60 days from the date of rejection.
You will receive your loan amount in your Niyo Equitas savings account.
EMIs will be auto-debited on a monthly basis from your bank account which has been selected by you for auto repayment setup during the loan application.
Yes, you can transfer the loan amount to any bank account of your choice.
NACH/e-mandate is an auto-debit mechanism which allows our lending partner to deduct your monthly EMIs from your bank account directly when due. It ensures that you need not take the hassle of remembering your EMI date and making manual payments.
We’re sorry to hear this. We request you to send us a screenshot of your bank statement showing the NACH debit at <CS link> and we’ll immediately look into this issue.
You need to pay the EMI amount every month which is decided at the time of loan booking.
EMI is calculated basis loan amount, interest rate and tenure.
You need to pay the EMI amount every month which is decided at the time of loan booking.
EMI is calculated basis loan amount, interest rate and tenure.
You need to pay the EMI amount every month which is decided at the time of loan booking.
EMI is calculated basis loan amount, interest rate and tenure.
Loans that are booked by 15th of a month, the First EMI date falls on the 5th of immediate next month .
Loans that are booked after 15th of any month (to month end), the First EMI date will fall on the 5th of next to next month.
For eg.
If the difference between the loan disbursal date and first EMI date is greater than 30 days then an additional interest is accrued which is proportional to the difference between the loan disbursal date and first EMI date. This additional interest is called the Pre EMI interest. Please refer the table below for Pre-EMI interest amount calculations:
The last EMI can be greater or lesser than the rest of the EMIs to accommodate for the rounding off done in the preceding EMIs.
Follwoing charges will be deducted at the time of loan disbursal :
- Processing fees equivalent to 2.5-5% (approximately) of the loan amount or INR 1000 + GST whichever is higher will be deducted from your loan amount at the time of loan disbursal.
- If a Pre-EMI interest is applicable then it will be deducted at the time of loan disbursal as well. To know more about the Pre-EMI interest go to the FAQ “What is Pre-EMI interest?”.
For eg. if a loan of ₹50,000 is disbursed on 4th Jan at an interest rate of 22% then the applicable processing fees (inclusive of GST) and Pre-EMI interest are (inclusive of GST) are ₹1475 and ₹31 respectively. Hence, you will receive ₹48,494 in your bank account.
EMI will be auto-deducted from your bank account on 5th of every month.
The first EMI date will be decided basis the following logic:
-Loans that are booked by 15th of a month, the First EMI date falls on the 5th of immediate next month .
-Loans that are booked after 15th of any month (to month end), the First EMI date will fall on the 5th of next to next month.
For eg.