NIRA Loan App Review : Instant Personal Loans for Salaried Professionals

What is the NIRA Loan App?

NIRA is a digital lending platform that provides instant personal loans to salaried individuals in India. Partnering with RBI-registered NBFCs, NIRA offers loans ranging from ₹5,000 to ₹1,50,000 with flexible repayment tenures.

Key Features of NIRA

• Loan Amount: ₹5,000 to ₹1,50,000
• Interest Rate: 24% to 36% APR (reducing balance)
• Repayment Tenure: 3 to 24 months
• Processing Fee: ₹350 + GST or 2%–7% of the loan amount plus GST
• Prepayment Charges: None within 7 days; up to 4% thereafter
• Late Payment Fee: ₹500 after 30 days; maximum ₹1,000 after 90 days
• Disbursal Time: Within 24 hours of approval
• Eligibility: Salaried individuals with a minimum monthly income of ₹12,000; age between 22–59 years

How to Apply for a NIRA Loan

1. Download the App: Available on Google Play Store
2. Register: Sign up using your mobile number and verify with OTP
3. Complete Profile: Enter personal, employment, and bank details
4. Upload Documents: PAN, Aadhaar, salary slips, and bank statements
5. Get Approval: Receive loan offer based on eligibility
6. Disbursal: Amount credited to your bank account within 24 hours

NIRA Customer Care

• Email: support@nirafinance.com
• Phone: +91-80-4719-9999
• Website: www.nirafinance.com

Is NIRA RBI Approved?

Yes, NIRA partners with RBI-registered NBFCs such as:

• Muthoot Finance Limited
• IIFL Finance Limited
• HDB Financial Services Limited
• Northern Arc Capital Limited
• PayU Finance India Private Limited
• Komac Investments & Finance Private Limited

These partnerships ensure that all lending activities are regulated and compliant with RBI guidelines.

Benefits of Using NIRA

• Quick Approval: Instant loan decisions
• Flexible Repayment: Choose tenure that suits you
• Transparent Charges: No hidden fees
• Credit Score Improvement: Timely repayments can boost your credit score
• User-Friendly App: Simple and intuitive interface

Frequently Asked Questions (FAQs)

🔹 What is the interest rate for a ₹50,000 NIRA loan?

Interest rates range from 24% to 36% APR, depending on your credit profile and chosen tenure.

🔹 Can I prepay my NIRA loan?

Yes, you can prepay your loan. There are no charges if you prepay within 7 days of disbursal. After 7 days, a prepayment fee of up to 4% may apply.

🔹 What documents are required for a NIRA loan?

• PAN Card
• Aadhaar Card
• Recent salary slips
• Bank statements for the last 3 months

🔹 How soon will I receive the loan amount?

Once approved, the loan amount is disbursed to your bank account within 24 hours.

Amit Sharma

As the Lead Analyst at Invest With Bull, Amit Sharma bridges the gap between complex banking regulations and your wallet. With a core focus on Credit Card Arbitrage and BDA Real Estate, Amit provides the data-backed analysis that salaried professionals need to maximize returns and minimize interest. He is dedicated to building financial literacy through unbiased, actionable research.

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