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: [email protected]
• 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.