Personal loan online

NIRA requires a CIBIL score of above 661 to approve candidates for personal loan. However, if you do not have a CIBIL score and this is the first time that you are applying for a formal loan, that’s completely fine too - you are very welcome to apply.

If you haven’t borrowed before, you are new to credit and do not have a credit history then fret not, YES you can apply to NIRA for a personal loan without CIBIL score. However, if you do have a CIBIL score, it needs to be above 661.

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.

You can take a personal of as low as Rs 5,000 and as high as Rs. 1 Lakh.

Yes, NIRA gives top up on existing loan based on your affordability. If your current monthly income and existing lifestyle can accommodate additional EMIs, you can qualify for a top up on existing personal loan.

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.

Yes you can pre-pay your personal loan. There will be no charges if you prepay after 3 months. However, if you pay before 3 months, a prepayment charge of 2.5% will be applicable.

No, you don’t need to provide any collateral or security for personal loan with NIRA. We offer you loans based on our assessment of your creditworthiness. There is also no need for any co-signee or guarantor either. NIRA provides you with Personal Loans without security so that you can get easy access to credit for your personal needs.

We are currently taking loan applications from salaried graduates in Bangalore. In the next few weeks, we’ll be expanding to other Tier-I and Tier-II cities in India. The next cities that we will expand to are Chennai, Delhi, Gurgaon, Hyderabad, Indore, Kolkata, Mumbai, Noida, and Pune. This will be followed by expansion in Tier-II cities.

The application process for NIRA personal loan is simple. You can apply for a loan online or on our app: fill in the required details on either our app or website to get your in-principle decision in 3 minutes. Once you've qualified for credit you can go ahead and upload the bank statement and ID document. You'll get a final approval once your documents have been verified. Before the loan gets disbursed into your bank account, you’ll also need to set up an auto-debit mandate. The good news is that you can sign the mandate electronically if your bank enables it. If not, we’ll arrange for pick up of paper mandate from a place and time of your choice. That’s it - you’ll be ready to use your personal loan.