Proptech firm Housing ties up with fintech Niro to offer facility to pay rent on credit

Proptech agency Housing.com has tied up with fintech startup Niro to supply prospects the power to pay their lease on credit score. Housing.com, which is a part of Australian agency REA, has began this credit score answer — Rent Now Pay Later (RNPL) service, in partnership with Bengaluru-based Niro.

“Now, rent can be paid on Housing.com by users with a zero-convenience fee, an interest-free credit period of up to 40 days, as well as an option to convert rent payments into easy monthly instalments (EMIs),” the corporate mentioned in a press release.

Housing.com had earlier began providing prospects the power to pay lease utilizing bank cards.

“However, given that only 4% of Indians have credit cards, the Rent Now Pay Later service affords non-carded users a significant flexibility in their financial planning – allowing them to pay their rent at zero cost and freeing up a significant portion of their disposable income for other items,” it mentioned.

The new service additional gives customers with the choice to improve their credit score restrict to have the ability to draw down money for a wide range of use instances, benefiting from instantaneous, low-interest charge loans.

Housing.com and Niro have already prolonged these provides to almost 100,000 customers. The first rental fee entails zero comfort or service payment, and customers can select to improve their credit score restrict as much as Rs 3 lakhs.

Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com & Makaan.com, mentioned this answer will deliver real empowerment to hundreds of thousands of consumers who want to lease properties utilizing credit score however are sometimes hindered by the shortage of conventional devices. “The trend of Buy Now Pay Later (BNPL) services has been growing globally, with companies such as Klarna, Afterpay, and Affirm leading the way.

“These companies present shoppers with the power to make purchases with out having to pay upfront, permitting them to pay in instalments over time. The BNPL mannequin has confirmed to achieve success in varied industries, from style to dwelling items, and now Housing.com is pioneering its use in the actual property sector in India,” Agarwala mentioned.

Founded in 2012 and purchased by REA India in 2017, Housing.com is without doubt one of the main full-stack proptech platforms for owners/dwelling seekers, landlords, builders, and actual property brokers.

It provides listings for brand spanking new properties, resale properties, leases, plots, industrial areas and co-living areas in India.

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