NIRA Instant Personal Loan App 7.8.6

NIRA collaborates with various RBI regulated NBFCs/Banks to facilitate loans for salaried individuals. Here are some important details about the NIRA Loan App:

• Loan Amount: Rs 5,000 to Rs 1,00,000
• Minimum Annual Percentage Rate (APR): 24%, Maximum Annual Percentage Rate: 36% (reducing balance)
• Minimum repayment period: 91 days, Maximum repayment period: 24 months
• Processing Fees: Maximum (₹350 + GST, Up to 2%-7% of loan amount plus GST)
• Prepayment Fees: No charges within 7 days of disbursal, 4% of prepayment amount thereafter
• Late fee: If overdue exceeds 30 days, a charge of Rs.500 will be applied. Maximum late fee charged would be Rs.1000 if overdue exceeds 90 days. Your bank may also levy charges in case of a bounce.

A representative example of the total cost of the loan:

• Amount Borrowed (Principal) = ₹14,999/-
• Interest Rate (APR) = 36% (on Reducing Principal Balance interest calculation)
• Tenure = 6 months
• Processing Fee (incl. GST) = ₹826
• Amount disbursed = ₹14,173
• Your EMI amount = ₹2769 (based on PMT method, sample monthly payment)
• Interest amount = ₹2769 x 6 - ₹14999 = ₹1614(sample interest calculation)
• Late Fee = ₹0 if paid on time
• Total Cost of Loan = Processing Fee + Interest Amount + Late Fee = ₹826 + ₹1614= ₹2440
• Principal repayment amount = ₹14,999/- (same as amount borrowed)
• Total repayment amount = Principal repayment amount + Interest Amount + Fee = ₹14,999 + ₹1614 + ₹0 = ₹16,613

Below are the lending partners we have:

1. Muthoot Finance Limited
2. IIFL Finance Limited
3. HDB Financial Services Limited
4. Mamta Projects (P) Ltd
5. NDX P2P Private Limited (Nbfc - P2P)
6. Northern Arc Capital Limited

Why should you download the NIRA Loan App?

1. Repay in EMIs of 3 to 24 months
2. Get money in bank account in 24 hrs

Eligibility:

1. Minimum salary of Rs.12,000 per month
2. Age between 22-59 years

Responsible Lending:

Our policies and services are regulated by our lending partners and are legally compliant. We are a member of the Digital Lenders Association of India and adhere to their code of conduct.

Note: The above text is a translation of the original message provided.

For users more comfortable with Hindi:

NIRA से आपको Personal Loan रुपये ५,००० से १,००,००० तक मिल सकता है। केवल Personal Loan App Download करें, कुछ विवरण डालें, दस्तावेज़ अपलोड करें और २४-४८ घंटों के अंदर आपको ऋण मिल जाएगा।100% डिजिटल ऋण आवेदन प्रक्रिया।

Steps for availing an Instant Personal Loan from NIRA:

1. Fill out a quick application form on our app. Receive loan approval decision instantly if qualified.
2. Once you qualify, upload the following documents: 3 months bank statements, Aadhaar card, PAN card, and a selfie.
3. Get instant cash in your bank account.

Our Instant Loans are safe:

Your data is transferred over a secure connection and we do not share it with anyone without your consent. All transactions are secured with a 256-bit SSL encryption.

Our app requires some permissions to provide you with a loan in a fast and easy manner. We need access to your User Account data such as name and email to auto-fill your application and help you log in. We also require access to your financial SMS to enrich your credit profile, auto-read OTPs, and provide the best instant personal loan. We need access to your location to verify your address. We require permission to access your contacts to get references for your loan application. We need access to your device information to prevent misuse. To understand how we collect and use your data in detail, please read our privacy policy.

For any inquiries, please contact us at [email protected]. Our office is located at NIRA, 2nd floor, UrbanVault Indiranagar, 2024, 16th Main Rd, HAL 2nd Stage, Kodihalli, Bengaluru, Karnataka 560008.