A NIRA Personal Loan can help salaried individuals get quick funds for urgent expenses. Loan amounts range from ₹5,000 to ₹1,50,000, with interest rates from 24% to 36% p.a. on a reducing balance basis.
The repayment tenure ranges from 3 to 24 months. NIRA also offers zero prepayment charges if the loan is closed within 7 days of disbursal.
Nira Personal Loan Details
A NIRA Personal Loan is a digital loan option for salaried individuals who need funds for urgent or personal expenses.
Here are the main loan details:
| Parameter | Details |
| Loan Amount | ₹5,000 to ₹1,50,000 |
| Interest Rate (APR) | 24% to 36% p.a. (reducing balance) |
| Processing Fee | ₹350 + GST or 2% to 7% of loan amount + GST |
| Tenure | 3 to 24 months (91 days to 24 months) |
| Disbursal Time | Within 24 hours of approval |
Nira Personal Loan Interest Rates
The interest rate is an important factor to check before taking a loan, as it affects your total borrowing cost and monthly EMI.
NIRA works with RBI-regulated NBFCs and banks to offer loan options based on the applicant’s profile.
| Loan Product | Interest Rate (APR) |
| NIRA Personal Loan | Starting at 24% to 36% p.a. |
Note: The final interest rate, APR, and loan offer depend on the lender’s decision, borrower profile, credit history, and the Key Fact Statement (KFS) provided during the application.
Nira Personal Loan Fees & Charges
Apart from the interest rate, check the processing fee, prepayment charges, and late payment charges before applying.
| Fee / Charge Type | Rate / Amount |
| Processing Fee | Maximum of ₹350 + GST or 2% to 7% of loan amount + GST |
| Prepayment / Foreclosure Fee | Nil within 7 days of disbursement; up to 4% after 7 days |
| Late Payment Charge | ₹0 for up to 30 days overdue; nominal fee of ₹500 beyond 30 days |
| Loan Amount Range | ₹5,000 to ₹1,50,000 |
| Repayment Tenure | 3 to 24 months |
Nira Personal Loan Eligibility Criteria
To apply for a NIRA Personal Loan, you need to meet the basic eligibility requirements.
| Criteria | Requirement |
| Age | 22 to 59 years old |
| Minimum Monthly Salary | ₹15,000 per month |
| Employment Type | Salaried individuals |
| Citizenship | Resident Indian citizen |
Documents Required For Nira Personal Loan
Keep the following documents ready when applying for a NIRA Personal Loan:
- Identity Proof: Aadhaar Card and PAN Card.
- Income Proof: Recent 3 months’ salary slips.
- Bank Statements: Bank statements for the past 3 months in original PDF format.
- Address Proof: Utility bill or active rental agreement.
Nira Personal Loan EMI Calculation
Calculating your EMI before applying for a loan can help you plan your monthly budget.
Enter the following details in the EMI calculator:
- Loan amount
- Interest rate
- Repayment tenure
The calculated EMI remains fixed throughout the loan tenure under the reducing balance method. The calculator can also help you understand the total interest cost and overall repayment amount.
Comparison of Nira Personal Loan Vs Other Banks & NBFCs
The following table presents a clear comparison of interest rates offered by Nira loan app and other NBFCs:
| NBFCs | INTEREST RATE (p.a.) |
| Nira | 24% onwards |
| mPokket | 22% onwards |
| Paysense | 16.8% onwards |
| HDB Financial services | 11% onwards |
| CASHe | 20% onwards |
| Home Credit | 24% |
| Money View | 14% onwards |
| RBL Bank | 14% onwards |
Note: The interest rates mentioned above are subject to change at the lender’s discretion.
Apply for a Personal loan now!
Features & Benefits of Nira Personal Loan
A NIRA Personal Loan offers digital access to funds for salaried individuals.
Here are some of the main features:
- Loan Amount up to ₹1,50,000: You can borrow between ₹5,000 and ₹1,50,000.
- Fast Disbursal: Approved loan amounts are transferred to your bank account within 24 hours.
- Flexible Repayment Tenure: Repayment tenure ranges from 3 to 24 months.
- Transparent Pricing: APR, processing fees, and other key terms are disclosed in the Key Fact Statement (KFS).
- Zero Prepayment Penalty: No prepayment fee applies if the loan is closed within 7 days of disbursal.
- 100% Digital Process: The application and document submission process can be completed online.
Types of Nira Personal Loans
NIRA offers personal loan options based on the applicant’s requirements and eligibility.
NIRA Instant Personal Loan
A NIRA Instant Personal Loan is meant for salaried individuals who need quick funds for medical expenses, travel, household costs, or other urgent needs.
- Available to salaried individuals with a minimum monthly income of ₹15,000.
- Loan amount ranges from ₹5,000 to ₹1,50,000.
- Repayment tenure ranges from 3 to 24 months.
- Interest rates range from 24% to 36% p.a. on a reducing balance basis.
NIRA Flexi Personal Loan
Flexi Personal Loans are suitable for borrowers looking for higher credit limits and longer repayment options.
- Available to eligible salaried applicants who meet the lending partner’s criteria.
- Offers higher credit limits and borrowing limits that may increase over time.
- Provides a flexible multi-month repayment structure.
How Do You Apply for Nira Loans with Buddy Loan?
Steps To Apply For a Personal Loan with Buddy Loan
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
NIRA Personal Loan Customer Care Number
You can contact NIRA for loan-related queries, application assistance, or grievance support using the following details:
| Support Category | Contact Details |
| Customer Support Phone | +91 7259947885 |
| Customer Support Email | support@nirafinance.com |
| Grievance Redressal Officer | Sashikanta Parhi |
| Grievance Support Phone | +91 7618789180 |
| Grievance Support Email | grievance@tilt.com |
| Operating Entity | Shuhari Tech Ventures Private Limited |
| Registered Office Address | NIRA, 3rd Floor, 2nd Building, 36/5 Hustle Hub Tech Park, Somasundarapalya Main Rd, HSR Layout, Sector 2, Bengaluru, Karnataka 560102 |
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