Personal Loan
Anytime, Anywhere

Get qualified for personal loan of up to
Rs. 1 Lakh in 3 minutes.

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What is a Personal Loan?

A personal loan is money you borrow for any kind of personal use such as buying a new mobile phone, investing in home improvements, taking a special vacation, taking an  educational course to build new skills, paying for wedding expenses or meeting unexpected expense and medical emergencies. To repay the loan, you make monthly payments of principal plus interest. A personal loan gives you the flexibility to make big purchases, then pay it off at a pace that is comfortable for you.

Am I eligible For a Personal Loan?

To be eligible for a personal loan with NIRA, you must be an Indian citizen and 21-65 years of age. You will need to have a college degree, be working for a minimum of 6 months and earn a salary of Rs 20k or above per month.

You do not need CIBIL score to apply for personal loan from NIRA. If you are new to credit and this is the first time that you are looking for a personal loan, we highly welcome your application.


1. You should have Graduate degree.
It’s important to hold a college degree to qualify for a personal loan from NIRA.
A college degree builds on your credibility and credentials for a personal loan application.

2. Your monthly income should be Rs. 20,000 or more.
To be eligible for a personal loan you need to display an ability to be able to afford the loan repayment and hence your salary plays a crucial role in your personal loan application.

3. You should be employed for at least 6 months.
Having a stable job increases your chances of getting qualified for a personal loan. You don’t necessarily need to have many years of work experience but a continuous and stable employment of minimum 6 months is a must have.

4. You have Aadhaar card.
An Aadhaar card is mandatory for NIRA personal loan application.
It is required to complete the verification and KYC process.

Check Eligibility

Change of job during loan tenure?

As a salaried individual, you may switch your jobs while your NIRA EMI is ongoing. As long as you continue to maintain balance in your salary account on the NIRA EMI due date, it is no problem if you change your jobs. However, be careful not to close your existing bank account when you have outstanding EMIs, as that may result in non-payment or late payment which will affect your CIBIL score negatively.

Can I apply if I am Self-employed?

At present we are only serving salaried graduates who have a monthly take home salary of greater than or equal to Rs.20,000. In near future, we aim to serve self-employed graduates as well, in Bangalore and other Indian cities.

BENEFITS of NIRA personal loan

NIRA makes Getting a personal loan
easy, quick and flexible.


Forget bank queues. NIRA gives you the opportunity to apply for a personal loan online from the comfort of your home/office. Apply for NIRA personal loan anytime, anywhere.


Know your personal loan eligibility in 3 minutes and get quick loan disbursal.


The interest rate for a NIRA personal loan ranges between 1.67% to 2.25% per month. With good repayment behavior, your interest rate will decrease over time.


Pay back your personal loan in easy EMIs. NIRA gives you the flexibility to choose your repayment tenure. You have the flexibility to choose between the time period of 3 to 12 months.

(*paper copies will be required to be submitted once for KYC purpose)

Advantages Of NIRA Personal Loan?

NIRA provides access to flexible and quick personal loan online. We offer these personal loans to you at the most competitive rates according to your profile. Forget bank queues, apply for a loan online on NIRA web or app and get pre-approved in 3 minutes. NIRA gives you the flexibility to choose your repayment terms. You can take loans of any size from Rs. 5,000 to Rs. 1 Lakh or your maximum credit limit.

We simplify the loan process and make access to personal loan easy.

What does a NIRA personal Loan cover and How to use it?

NIRA offers personal loan starting from Rs. 10,000 up to Rs. 1 Lakh. Once you are qualified and have a credit limit, you have the freedom to choose whatever you want to do with that money. A NIRA personal loan covers all your requirements whether it’s a new mobile phone, laptop, vacation, wedding or short education courses.

NIRA personal loan is made available to you in the form of a personal credit line. You are free to withdraw a part or all of the credit limit depending on your use. You’ll only pay interest on the drawn amount.

Suppose you get approved for NIRA credit limit of Rs.50,000. It’s up to you to take 5 loans of Rs.10000, or two loans of Rs.25,000 at different times, or the entire Rs.50,000 at once. You are, of course, free to choose any other amount less than Rs.50,000 that you want.


  1. Get instant approval either on web or mobile app
  2. Upload docs to complete the process
  3. Setup auto-debit and avail credit
  4. Hello Freedom!

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Fees and other charges

We have the following three fees as charged by our lending partner:
(i) Processing Fee: A flat amount of Rs.500 is charged for the first loan. The amount will be reduced for the second loan.
(ii) Late Payment Fee: Please refer to
(iii) Prepayment Fee: 2.5% if prepayment before 90 days; 0% after 90 days

There are no other hidden fees and charges.

Repayment terms for loan NIRA Personal loan

NIRA offers a flexible repayment term on personal loans. You
have the freedom to choose a tenure between 3 to 12 months.

Modes of Repayment

There are two modes of payment to pay back for your personal loan.
(i) You can either pay with the auto-debit instruction which was set up during the time of loan application.
(ii) or you can pay using the app via net banking/debit card.


To apply for a personal loan with NIRA you would
need your Aadhaar number, PAN number, Salary slip
and 6months bank statements.


What are the CIBIL score requirements for a NIRA personal loan?

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.

Can I get a personal loan from NIRA without a CIBIL score?

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.

How many personal loans can you take with NIRA?

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.

What is the minimum and maximum I can borrow?

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

Does NIRA give a top up on existing personal loan?

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.

When will the money be disbursed? How long does it take for a personal loan application to be approved?

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.

Can I pre-pay my personal loan?

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.

Do I need to provide any security or collateral for personal loan with NIRA?

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.

Which all locations do you serve?

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.

What is the application process for NIRA personal loan? How to get a personal loan?

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.

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