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Online access to an immediate NIRA personal loan up to Rs. 1 lakh with a 24% to 36% p.a. attractive interest rate. From three to twelve months are allowed for repayment. The borrower must also pay a processing charge of up to 2% of the loan amount in addition to the interest rate.

Characteristics of NIRA Loan

The benefits of an NIRA personal loan include the following:

  • The loan can be utilised for whichever purpose you want. It can be used to organise a vacation, pay for wedding expenses, cover medical emergencies, pay for your children’s education, make repairs and renovations to your home, buy gadgets, or even buy a phone. The loan will function similarly to a credit card, where you have a predefined spending limit that you can use as you choose.
  • Loan amounts range from Rs. 5,000 (the minimum) to Rs. 1 lakh (the maximum). Based on income and ability to repay the loan, the quantum eligibility is determined. The minimum drawdown should be Rs. 5,000, however you are free to make as many withdrawals as you’d like in multiples of Rs. 5,000.
  • No security is needed because this loan is unsecured.
  • Interest: There is a 2% to 3% per month (or 24% to 36%) interest fee. According to their unique concept, the interest rate is based on credit score. The interest rate decreases as the score rises. Only the amount of the loan taken out must be paid in interest; interest does not need to be paid on the predetermined maximum.The only difference between the loan’s operation and that of a credit card with a pre-set limit is that the loan’s whole repayment must be made in equivalent monthly instalments (EMIs).
  • Repayment: Loan terms range from three to twelve months, in one-month increments. As in three months, four months, five months, etc.
  • Processing fee: On the first loan, a processing fee of at least Rs. 500 plus any applicable GST and at most 2% of the loan amount would be charged.
  • Credit rating: Regardless of your credit rating, you are still eligible for the loan. We welcome new customers who have never used credit before. However, your loan application will only be processed if you have a CIBIL score.

What Justifies a Personal Loan from NIRA?

The advantages of an NIRA personal loan are as follows:

  • Processing and paperwork for loans are straightforward and easy.
  • According to their in-house evaluation tool, the interest rate is determined by your credit score. The interest rate decreases as the score rises.
  • Instantaneously or in three minutes, the loan will be approved.
  • The loan can be applied for online, making it available whenever and wherever you are.

Documents Needed for a Personal Loan from NIRA

The following paperwork is necessary for an NIRA Personal Loan:

  • Aadhaar Card
  • Recent 3 month pay stubs
  • Recent 3 month bank statement of the bank account
  • Address Proof
  • PAN Card

NIRA Personal Loan Qualifications

The following conditions must be met in order to qualify for an NIRA Personal Loan:

  • The applicant’s age should fall between 21 and 55 years old.
  • The candidate must hold a degree from a college.
  • A minimum of six months of work experience is required of the applicant.
  • The required minimum monthly income is Rs. 12,000
  • To complete the KYC and verification process and to be eligible for an NIRA Personal Loan, you must have an Aadhaar Card.

How Do I Get a Personal Loan Through NIRA? 

  • Applying for an NIRA Personal Loan is a relatively easy process. Both the NIRA app and online applications are accepted.
  • Activate the NIRA mobile app or sign in to their main website.
  • Enter the necessary information to receive an in-principle decision in only three minutes.
  • If you are eligible for the loan, attach the necessary paperwork, such as an identity document and a bank statement.
  • You will receive approval as soon as your documents have been successfully checked.
  • You will have access to the line of credit shortly after the KYC compliance is finished.
  • Create an automatic debit mandate. If your bank permits it, you can electronically sign the mandate.
  • How Can I Reach NIRA?

 You can contact NIRA personal loan customer service at if you have any questions about the app’s services. You can contact them by email at their official address.

  • How Can I Refuse A NIRA Loan?

Once you have accessed a personal loan through the NIRA mobile application, you cannot cancel the loan.

  • Is NIRA Covered by RBI?

Yes, the NIRA App, which offers a quick personal loan, is registered with the RBI. Cashbean, Cashe, Early Salary, Finnable, Kreditbee, Loantap, MoneyTap, and Paysense are more apps registered with the RBI.

  • If I Don’t Pay My NIRA Loan, What Happens?

You will receive a reminder to repay your loan if you don’t pay it back.

  • Has NIRA any impact on credit scores?

You don’t need a credit history to apply for a personal loan using the NIRA app, but missing an EMI payment will lower your credit score.

  • What Is The NIRA Interest Rate?

The application offers hassle-free fast financing. Additionally, it provides salaried staff with simple personal loans at a competitive rate of 24%.

  • NIRA: Is It a Secure Site?

With the borrowers’ permission, the app transfers the shared data to the lenders over a secure connection. Consequently, it is a secure and trustworthy tool to apply for and receive an urgent personal loan.

  • The CIBIL score is checked by NIRA.

Yes, credit checks are performed on all applicants for loans or loans that offer personal loans. This is a crucial prerequisite for obtaining a personal loan from any lender.

  • How Does The NIRA Work For Advance Salary?

Working professionals can get salary advances through the NIRA mobile app to get over any financial obstacles. It provides advances with a $5,000 to $1,000,000 maximum to people with no credit history.

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