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Simpl Review
One Sigma Technologies (Account-aggregator + merchant credit)
Merchant pay-later that has shrunk after RBI's 2022 DLG; check current lender chain before using.
Red flags
- •RBI's 2022 PPI guidance hit similar pay-later models
- •Late fees can compound steeply
Green flags
- •Works without contacts/gallery permission
Permissions demanded
Data practices
Limited data scope vs traditional loan apps.
Recovery practices
Email/SMS-based; few harassment complaints recently.
Sources & references
Grievance & support
- Grievance redressalhttps://simplgrievance-cell.freshdesk.com/support/home
- Support / helpdeskhelp@getsimpl.com
Contact details published by the lender. If unresolved within 30 days, escalate via RBI Sachet.
Disclaimer: Reviews are independent editorial assessments based on publicly available information and user-submitted complaints. APR ranges and fees can change — always check the lender's Key Fact Statement before borrowing. Not financial or legal advice.
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Frequently asked questions about Simpl
Is Simpl RBI-registered?
Simpl is operated by One Sigma Technologies (Account-aggregator + merchant credit). Its RBI status: Not RBI-regulated. Always verify the parent lender directly on the RBI NBFC list before borrowing.
What is the real APR on Simpl?
Simpl charges an APR between 48% and 48% per annum with a processing fee of up to 2%. After fees and GST, the effective APR on short tenures can be significantly higher than the headline rate.
Is Simpl safe to use?
Merchant pay-later that has shrunk after RBI's 2022 DLG; check current lender chain before using. Permissions demanded: KYC, SMS (optional). Recovery practices: Email/SMS-based; few harassment complaints recently..
What loan amount and tenure does Simpl offer?
Ticket size ranges from ₹100 to ₹25,000, with tenure between 1 and 3 months.
How do I close my Simpl loan early?
Open the app, request a foreclosure quote in writing, and pay the principal + accrued interest. Demand the No Dues Certificate (NDC) within 7 working days — RBI mandates it. If Simpl refuses or harasses you, file a complaint on the RBI Sachet portal.