Rent Now Pay Later (RNPL) services have become increasingly popular around the world, with many companies offering free rental options via credit card, followed by a charge. However, Housing.com, a leading digital real estate platform based in Bangalore, in partnership with embedded finance startup Niro, has launched its own RNPL service in India. The service includes an interest-free period of up to 40 days and EMI options for easy monthly premiums on rental payments.
Customers also have the option to upgrade their credit limit to Rs 3 lakh, allowing for cash draws and low-interest rate loans. The BNPL trend is growing globally, with companies like Klarna, Afterpay, and Affirm leading the way.
Housing.com and Niro have already extended these offers to around 100,000 users. The first rental payment includes zero convenience or service fees. Housing.com has previously offered customers a rental payment facility using a credit card. REA, an Australian-based company that Housing.com is part of, also offers customers the option to pay rent on credit with zero favorable fees
