NIRA is the new type of finance company that you've been waiting for! We want to give you great products which are simple and easy to use.

Our first product is a line of credit of upto Rs 1 lakh. Avail credit whenever you want, wherever you want.

Yes we do! Please refer to the Rewards & Referrals section on the FAQ page.

To successfully apply for credit, you must be an Indian citizen and 21-55 years of age. You will be working for a minimum of 6 months and earn a salary of Rs 12,000 or higher per month.

Only your most recent payslip and bank statements for the last 3 months. These can be submitted on NIRA's app via net-banking or PDF upload. 

Please feel free to contact our support team at support@nirafinance.com or you can also message them on Whatsapp (9591196740) . They will assist you in completing your application.

If you have a CIBIL score, you need a minimum score of 681 in order to be eligible for credit from NIRA. If you are new to credit, your CIBIL score should be -1 or 3, 4 and 5.

If you don't have a CIBIL score and have not taken a loan before, you are still welcome to apply for credit with NIRA.

Having netbanking is NOT mandatory. You can also upload the unlocked PDF copies of your bank statement for the last consecutive six months.

We accept applications from all over India including cities such as Bangalore, Hyderabad, Delhi, Noida, Gurgaon, Mumbai, Chennai, Pune, Kolkata & Indore.

Think of it like a digital credit card. You are assigned a limit, and you can use it at your discretion. The difference is that your repayments will be in the form of monthly EMIs.

We will assign you a limit of between Rs. 5,000 and Rs. 1 lakh. Your limit is based on our assessment of the amount of debt that you can sustainably service.

It's up to you. Since we transfer cash to your bank account upon a draw down, you can then use it for whatever you want. However, we would advise you against utlising credit for speculative purposes like betting, or risky investing.

You can take as many loans as you want, as long as you are within your limit. There is a minimum loan size of Rs. 5,000 for drawdowns.

When you make a draw down from your credit line, you can select tenors of between 3 and 12 months in 1 month increments. i.e. 3m, 4m, 5m,....., 12m.

The application process is simple: fill in the required details on either our app or website to get your in-principle decision. Once you've qualified for credit you can go ahead and upload the required documents. You'll get a final approval once your documents have been verified. As soon as you complete your KYC, you will be able to use your line of credit.

You can see the status of your application at any time on your NIRA app. If you have any further questions please reach out to our team on support@nirafinance.com or message your registered email ID on Whatsapp (9591196740).

The in-principle approval would be shown on the app instantly once the application is completed. The final approval will be given as soon as all the documents are uploaded and collected (if applicable to your application). You can expect to complete this step in 2-48 hours.

After the final approval and completing the auto-debit setup, you can submit a draw request on your credit line any time, and the money will come into your account within 2-24 hours. Money will come into your account faster on subsequent draws. If you make a draw request over the weekend, the money will be credited to your account on the following Monday.

Yes, to complete the application you need to download the NIRA app from Google Play store. Bit.ly link. The app will also help you to easily monitor your loan repayment.

After confirming 'Avail Credit' and setting up the mandate, if you want, you can cancel the loan before it is disbursed into your bank a/c. You can write to us at support@nirafinance.com if you wish to cancel. Please mention 'Loan Cancel' in the subject line.

NACH is an auto-debit instruction from you that authorises us to collect your EMI payments directly from your salaried account. We will only collect the payment due and no more. E-mandate is the digital equivalent of the same auto-debit form. It is available to those whose banks are live with e-mandate. Click on this link to see if your bank is live with e-mandate - https://www.npci.org.in/nach-e-mandates

Only if your bank doesn't yet allow e-mandates. With a growing number of banks now allowing it, chances are that your bank does too (meaning no NACH form and a paperless process!).

You'll be directed within the app to book an appointment with our courier partner. They will collect the completed form from either your home or work address.

The amount in the NACH form is the total amount lent to you by us. However, the recurring payments will be for the EMI amount shown to you on the app.

In case you are submitting NACH auto-debit mandate, you'll re required to sign and handover two printed copies of the mandate to our courier partner.

You can schedule a pick-up on the app at your convenience.

There are two modes of payment. You can either pay with the auto-debit instruction which was set up during the time of loan application or you can pay using the the app via netbanking/debitcard. For the auto-debit, kindly ensure that you have sufficient funds in your account on EMI due date.

Setting up auto-debit is mandatory for the loan application to be complete. However, you can prepay your loans on the app if you wish to.

There will be a NACH return charge levied on your bank account from your bank. Also, you will incur a late payment fees for the delay in payment.

There are no additional fees beyond processing fee if your payments are made on time. In case you are late, a late payment fee will apply. If you prepay your loan during the first three months, prepayment penalties will be apply.

There will be an auto-debit mandate return charge levied on your bank account from your bank. Also, you will incur late payment fees for any delayed payments. The late payment fee will increase if you delay period increases. Unlike the utility bill payments, delays in EMI payment incur high late payment charges.

Yes, there will be an auto-debit mandate return charge levied on your bank account from your bank. Also, you will incur a late payment fees for any delayed payments. Unlike the utility bill payments, delays in EMI payment incur high late payment charges.

As of now, once the EMI date is finalised, it cannot be changed. We may introduce a date change feature in future.

Your performance will contribute to your CIBIL score. Regular timely payments will help you build your CIBIL score. You won't however get extra points for paying your balance sooner than its due date.

Yes. There will be charges if you prepay within 3 months, no charges thereafter. If you prepay within 3 months, then you will be required to pay 2.5% of the amount that you prepay as pre-closing charges. For comparison, the pre-closing charges on personal loans from banks range from 2%-5%.

Once the loan is complete, you can expect the No dues certificate within 2 working days.

Unfortunately, changing the tenure will not be possible once the loan is disbursed.

Unfortunately, it is not possible to change the due date of an EMI payment.

Your interest rate will be a function of your credit score on our proprietary model. The higher your score, the lower your interest rate. Our interest rates will vary from 2.0% to 3.0% per month, or 24% to 36% per year (annual percentage rate or APR). As an example of our loan charges, on a loan of Rs.20000 for 6 months at 24% APR, you'll pay Rs3571 as monthly EMI and Rs21,957 in total which includes Rs.450+GST as processing fee. Please see next question for more details on processing fee.

There will a processing fee of a minimum of Rs.350 + GST and a maximum of 2.0% of loan amount on your first loan. This is to cover the costs of on-boarding including document collections, verifications, and payment setup.

There will be a processing fee on subsequent loans to cover fresh checks and new transaction costs. However, fees for subsequent loans will be lower than that of your first loan.

Please note that delayed payments resulting from auto-debit bounce will result in a penalty of up to Rs.500 from your own bank. Additionally, a bounce fee of Rs.100 will be levied by our partner funder.
For prolonged delay in payments, you'll be charged according to the schedule below:

Yes, absolutely. NIRA is a private limited company registered under RoC-Bangalore. We partner with Federal Bank, which is one of the biggest private banks in India to offer you credit. We take utmost care about our customer's data security and privacy against internal and external threats. If you have any specific concerns please write to us at support+safety@nirafinance.com, or send us your message on WhatsApp (9591196740).

Yes, when you do a netbanking login, you provide us with a read-only access to fetch your bank statement. Your netbanking credentials are never stored on NIRA or any external servers. The netbanking login is simply a convenient alternative to manually uploading your six months of bank statements.

In case of rejection, your submitted data will be stored securely with us in case you may want to reapply again in future. Under no circumstance, will your data be sold/shared with third parties without your consent except as required by law. If you would like, you can delete your account from the app in which case all except the mandatorily requied data by RBI will be deleted. You'll need to provide all the required documents again if you wish to reapply in future.

Our systems are designed to protect your data. The data sent by you through the website and app is protected with industry standard encryption. We follow the same security standards that are followed by banks. Your data stored on our servers can only be accessed through your credentials or internally by NIRA personnel when they are helping you out with your applications. We have procedural safeguards in place to ensure the security of your data while it is being handled by the staff at NIRA.

You can delete your account at any time from the Settings section within the Main Menu on the NIRA app. A person from our operations team will connect with you to make sure that all except the mandatorily required information by the bank and the RBI will be deleted. Please note that if you have loan amounts outstanding, you would not be able to delete your account.

Yes. You will need to provide all the required documents if you wish to comeback and apply with us.

NIRA’s referral program encourages our existing customers to bring new people in need of personal loans on board to help our community grow. If you’ve already taken a loan from us in the past, you (the referrer) automatically become eligible to refer a friend (the referee) to NIRA. Once your friend qualifies for a loan with us, he earns Rs. 150/- off on the processing fee while you earn Rs. 150/- off on the processing fee of your next loan with us.

• Open the NIRA app and head over to the drop down menu.
• Select “Rewards & Referrals” from the menu.
• You’ll be guided to a page with an option to share a referral code link with your contacts
• Select a contact you’d like to refer and then choose your preferred mode of sharing the referral code
• Hit “share” and you’re done!

Once your friend (the referee) receives the code, she will need to download the NIRA app and apply for a loan with us. Once her application is reviewed and she qualifies for a loan with us, we will deduct Rs. 150/- on the processing fee of her loan.

You will be notified once your referral has been successfully converted and subsequently, you should receive Rs. 150/- from us as your reward.

Once you apply and qualify for your next loan with us, you will be able to apply your referral reward and avail a discount against the processing fee of that particular loan.

As soon as he applies and qualifies for a personal loan with us!

Yes. Check out our “Eligibility” section in our FAQs for more information.

Yes, you can refer your friends to NIRA even if you haven’t applied for a loan with us. However, your discount will only apply on the second and subsequent loans with NIRA.

No. You can refer friends only through the NIRA app currently.

You can refer as many friends as you like and earn rewards for each successful referral!

No, unfortunately!

Yes! You can choose to save your referral rewards for later and club them together to use against the processing fee of your next loan with us. The balance will be reflected in your account.

Select “Rewards & Referrals” from the dropdown menu in the app. Click on “My Discounts” (the gift box icon on the top left corner). You should be able to view your referral rewards balance here.

Referral rewards will remain valid up to 12 months from the date of activation so be sure to use them up within a year!

Yes, this is so that we can verify your employment with your stated employer. Alternatively, you are required to provide photos of your employee access card.

This is a score from the Credit Information Bureau of India Limited (hence the name CIBIL). It is a record of a borrower's credit worthiness based on their past record of their loan repayments among other things. A CIBIL score ranges from 300 to 900; banks usually require a score of 750 or above to qualify for credit.

You can write an email to our support team at support@nirafinance.com if you wish to update your contact details.

Your credit line is revised on a monthly basis, to make sure that it reflects your latest circumstances. You'll be notified of the updates inside the app and on your registered email address.

The credit limit is set automatically based on your banking history and other relevant information.

Currently, we support Android platform. We may launch our iOS and Windows apps in future.

You'll be setting up an auto-debit instruction at the time of applying to NIRA. If the mandate is successfully registered, just make sure that you maintain sufficient funds in your bank account on every EMI due date. The EMIs will be automatically deducted. If for some reason, the auto-debit isn't processed, we'll notify you via SMS, email and app notifications. In this case, you can pay via the PAY NOW option in the NIRA app.

You can schedule the pickup of your documents with our courier partner via the NIRA mobile app.

As long as you've unused credit limit available and it is greater than the minimum loan size of Rs.5,000 you can take another loan.