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Frequently Asked Questions

  • What does NIRA offer?
    Our first product is a line of credit of up to Rs 1 lakh.
  • What is NIRA?
    NIRA is a financial services company. We are on a mission to bring relevant and accessible financial products to India’s mass market. We are transparent, quick, and always evolving to better serve our clients who make up the heart of our country.
  • I do not have a CIBIL score
    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.
  • What are the required documents to apply?
    You’ll need your Aadhaar, PAN, and bank statements of the last 3 months. These can be submitted on NIRA's app via net-banking or PDF upload.
  • I do not have netbanking. How else can I provide the bank statements?
    Having netbanking is NOT mandatory. If you are having a hard time figuring out how to get your PDF bank statement you can write to us at NIRA Support and we’ll be happy to help you with it!
  • In which cities do you operate?
    As long as you are in India you can download and apply for a loan with us!
  • What is the eligibility criteria to apply for credit with NIRA?
    To successfully apply for credit, you must be an Indian citizen and 21-55 years of age. Ideally, you’ve been working a minimum of 6 months and earn a salary of Rs 11,000 or higher per month.
  • I do not have one or more documents required
    Please feel free to contact our support team at or you can also message them on Whatsapp (9591196740). We will do our best to assist you.
  • What can I use loans for?
    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 utilizing credit for speculative purposes like betting, or risky investing.
  • What will my limit be?
    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 pay back over time.
  • What is a Line of Credit?
    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.
  • How many loans can I take out?
    Currently NIRA offers credit line amounts ranging from 5 thousand to 1 lakh. Once you've been given your credit limit you can use it however you'd like.
  • What loan tenors are available?
    When you make a draw down from your credit line, you can select tenors of between 3 and 12 months. If you take out a new loan with us after successfully paying off your first, we offer longer pay back timelines (up to 24 months). We also offer higher limits to our regular customers.
  • Is it necessary to download the app to apply?
    Yes, NIRA is an app based financial service. In order to complete the application you need to download the NIRA app from Google Play store.
  • How long does it take for a loan application to be approved?
    You’ll know the in-principle approval on the app instantly, once your 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 24 hours.
  • What is my application status?
    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 and we’ll help you out!
  • How to cancel my loan application?
    After confirming 'Avail Credit' and setting up the mandate, you can still cancel the loan before it is disbursed into your bank a/c. You can write to us at if you wish to cancel. Please mention 'Cancel Loan' in the subject line.
  • Once approved, how long does it take for the money to come into my account?
    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 48 hours ( often, you’ll get in within 24 hours!). The 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.
  • How do I apply to NIRA for a loan?
    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. You’ll be able to use your line of credit within 24 hours after your KYC approval.
  • What is a NACH/e-mandate form?
    NACH is an auto-debit instruction from you that authorizes us to collect your EMI payments directly from your salaried account. We will only collect the payment due and nothing more. E-mandate is the digital equivalent of the same auto-debit form. It is available to those whose banks live with e-mandate. Click on this link to see if your bank is live with e-mandate -
  • Do I need to complete a NACH form?
    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!).
  • The amount in NACH form is more than my EMI. How is this amount calculated?
    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.
  • How do I submit my NACH form?
    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.
  • Can I prepay my loan?
    Yes, if you prepay within 7 days of loan disbursal, there will be zero prepayment charges. After 7 days, you'll incur a prepayment penalty of 4% of the prepayment amount.
  • What are the payment modes available?
    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 app via netbanking/debit card. For the auto-debit, kindly ensure that you have sufficient funds in your account on EMI due date.
  • What happens if I delay payments?
    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 the period. Unlike the utility bill payments, delays in EMI payment incur high late payment charges.
  • Are there any hidden fees/charges?
    There are no additional fees beyond the 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 applied.
  • Is there any CIBIL impact if I pay off all my outstanding balance?
    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.
  • What happens if there isn't sufficient balance in my account?
    There will be a NACH return charge levied on your bank account from your bank. Also, you will incur late payment fees for the delay in payment.
  • Will I be charged extra if I wish to delay payments?
    Yes, 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. Unlike the utility bill payments, delays in EMI payment incur high late payment charges.
  • Can I change the tenure of the loan after the loan is disbursed?
    Unfortunately, changing the tenure will not be possible once the loan is disbursed.
  • When will I receive the No Dues certificate for my loan?
    Once the loan is complete, you can expect the No Dues certificate within 2 working days.
  • Is it possible to reschedule or postpone my EMI date?
    As of now, once the EMI date is finalised, it cannot be changed. Late payments will effect your CIBIL score. You should reach out to if you think you will be making a late payment.
  • What is a processing fee and why is it charged?
    There will be a processing fee depending on your loan amount that can range from 5% to 8%. This is to cover the costs of on-boarding including document collections, verifications, and payment setup.
  • What are the interest rates?
    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 the next question for more details on processing fee.
  • What is the processing fee for subsequent loans?
    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.
  • What are the charges for delayed payments?
    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 finance partner. For prolonged delay in payments, you'll be charged according to the schedule below:
  • How do I delete my account?
    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.
  • Is it safe to apply with NIRA?
    Yes, absolutely. NIRA is a private limited company registered under RoC-Bangalore. We partner only with RBI authorised NBFCs. 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
  • What happens to my documents and data if my loan is rejected?
    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 required data by RBI will be deleted. You'll need to provide all the required documents again if you wish to reapply in future.
  • If I delete my account and if I decide to apply again do I have to provide the documents?
    Yes. You will need to provide all the required documents if you wish to come back and apply with us.
  • What are the security measures you deploy to keep the data safe?
    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.
  • Is it safe to use my netbanking credentials to submit the bank statements?
    Yes, when you do a netbanking login, you provide us with 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.
  • How many friends can I refer?
    You can refer as many friends as you like and earn rewards for each successful referral!
  • How do I refer to a friend?
    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
  • Can I refer a friend through the website?
    No. You can refer friends only through the NIRA app currently.
  • How do I check my reward balance?
    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.
  • What is the NIRA referral program?
    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. If your referral qualifies and gets a disbursed loan from us, you will receive INR 301 to use on your next loan with us.
  • Can I accumulate multiple referral rewards?
    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.
  • Can I refer the same friend twice?
    No, unfortunately!
  • When does my referral reward expire?
    Referral rewards will remain valid up to 12 months from the date of activation so be sure to use them up within a year!
  • When can I avail my referral 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.
  • Is it mandatory to provide the work email?
    If you don’t have a work email, you can also upload a picture of your work ID or a letter from your HR that states your employment.
  • When can my credit limit be revised?
    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.
  • When can I apply for the second loan?
    We require at least a month gap in between loans.
  • What is a CIBIL score?
    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 history 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.
  • How can I pay my EMI?
    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.
  • Can I choose the limit I want?
    The credit limit is set automatically based on your banking history and other relevant information.
  • What type of mobile operating systems do you support?
    Currently, we support Android platform. We may launch our iOS and Windows apps in future.
  • What are the various processing and late fee structures?
    Processing Fee Prepayment Fee Equals 4% of prepayment amount in addition to accrued interest at the applicable loan interest rate from the time since last payment. The prepayment fee may be fully or partially waived off on a case by case basis. Late Fee Equals late interest on the overdue amount at the applicable loan interest rate plus a late penalty as noted below. The late penalty may be fully or partially waived off on a case by case basis. Loan Amounts Minimum: Rs. 5000 Maximum: Rs1,00,000 Loan Tenures Minimum: 3 months Maximum: 24 months Interest Rates Minimum: 2% pm, 24% pa Maximum: 3% pm, 36% pa
  • How can I change the address and contact/phone number?
    You can write an email to our support team at if you wish to update your contact details.
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