Housing.com and Niro Launch Rent Now Pay Later Service for Customers to Pay Rent on Credit with Zero-Convenience Fee and an Interest-Free Period of up to 40 days.

Housing.com has partnered with embedded finance start-up Niro to offer Rent Now Pay Later (RNPL) service, allowing customers to pay their rent on credit. With zero convenience fee and an interest-free period of up to 40 days, customers also have the option to convert their rent payments into easy monthly installments (EMIs).

The solution aims to empower millions of customers who desire to rent properties using credit but are often hindered by the lack of traditional instruments, according to Dhruv Agarwala, Group CEO of Housing.com, PropTiger.com & Makaan.com.

The pre-launch phase of the service has been completed by extending offers to nearly 100,000 users. The first rental payment involves zero conveniences or service fees, and users can choose to upgrade their credit limit up to 3 lakh, the company added.

Rent Now Pay Later: A convenient option for tenants

Rent can be paid 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, the company said.