Mystro Loans & Neo Banking app

Mystro app offers paperless and completely digital loans for Personal and Business needs. Loans are offered from our own NBFC Mitron Capital Pvt Ltd as well as from partner Financial Institutions. The app offers host of other features like Credit management for monitoring all your loans and credit cards on app, Bill payments across 3000+ billers and many more.

* Personal Loans* : Our loans are designed to meet your needs education, school fees, Credit card repayments and various other emergency needs. Loan amounts offered are typically from Rs.5000 to Rs. 2 lakhs which are repayable in instalments (EMIs) ranging from 3 to 18 monthly installments as per terms & conditions.

1. Trustworthy & Transparent, serving for more than 4 years

2. 0% Pre-closure charges for Loan

3. We dont collect your SMS or Contacts data

4. 100% Online, Video KYC based processes

*Credit Management* : If you care about your Financial health, check out the one of the most advanced and simplified debt monitoring feature. This is beyond regular Credit reports, you can not only Track all your current and past loans taken, but also check if they are correctly reported by your Banks/NBFCs on app.

*Bill Payments* : Now directly pay your bills like Electricity, Water, DTH, Insurance, Broadband and many more on app without any additional cost. Now track and pay your bills on Mystro app.

*** Key information about Personal Loans***

Loans provided are targeted to primarily salaried individuals based in India. Typical Loan periods ranges from 3 to 18 months. Interest rates depend on loan product and vary from 15.00% to 36.00 % per annum. Minimum Annual Percentage Rate (APR) of 15% and Maximum APR of 40% per annum.

Example of Personal Loan:

Loan Amount (Principal): ₹50,000/-

Yearly Interest Rate: 24.00% p.a (on Reducing Principal Balance interest calculation)

Tenure: 12 months

Processing fees (including GST at 18%) = Rs. 1500 + Rs. 270(GST) = Rs. 1770 (deducted from loan disbursed)

EMI: Rs. 4728

Total Interest Cost = Rs.6736

Loan Principal to be Repaid = Rs. 50000

Total Cost of the Loan = Total Interest Cost + Processing Fees = Rs. 6736+ Rs. 1770 = Rs 8506

Total Loan Repayment Amount = Loan Principal to be Repaid + Total Interest Cost = Rs. 50000 + Rs 6736 = Rs.56736

APR : 17.01% p.a

How it works?

1. Install the Mystro app

2. Enter Mobile number and Enter OTP to Register

3. Check Loans Section > Apply New Loan

4. Upload your Aadhaar and PAN, Current Address, Salary and Bank statement for latest 3 months

5. On Loan approval, complete Video KYC and get funds in your account