Need a personal loan? Muthoot Finance now lends to salaried individuals on NIRA app

New Delhi: On Thursday, Muthoot Finance Limited said that the non-banking finance company (NBFC) is partnering with fintech startup NIRA to amp up its digital footprint. The partnership will allow the firm to offer salaried customers personal loans worth up to Rs 1 lakh. 

If you’re looking to take a personal loan from Muthoot, then you need to download the NIRA app from the Google Play store. You can apply for a personal loan on the app. It is important to note that NIRA, a Bengaluru-based fintech firm, provides small ticket personal loans to salaried workers from India`s middle class. 

The lending-tech startup offers loans to borrowers with monthly income as low as Rs 12,000 per month. Joining hands with Muthoot Finance will help the startup grow its unsecured lending book.

Commenting on the development, Pradeep, Head of Personal Loan Department, Muthoot Finance Limited said, "We are excited to have this tie-up to enhance our personal loan growth with quality. Muthoot Finance is also aggressively moving towards an end-to-end digital process, and this tie-up is one of the initiatives in the same direction." 

Rohit Sen, CEO and co-founder at NIRA said: "We are delighted to add Muthoot as a partner in our roster of funders. Muthoot is a trusted brand Pan-India, and trust is a vital ingredient in the provision of financial services. This partnership bolsters our ability to continue our mission of providing accessible formal credit at affordable rates and in a timely manner to India`s mass market," he said. 

- With inputs from ANI