Tag: nira

Muthoot Finance ties up with NIRA to offer personal loans

Banking & Finance

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Muthoot Finance Limited has announced its collaboration with fintech NIRA as part of its strategy to strengthen its digital footprint.

Through this partnership, salaried customers can avail a personal loan of up to ₹1 lakh from Muthoot by downloading the NIRA app from Google’s Play store.

NIRA is a Bengaluru-based fintech offering small ticket personal loans to salaried workers from India’s middle class. They offer loans to borrowers starting at incomes as low as ₹12,000 per month. This partnership will help Muthoot Finance build its unsecured lending book.

Pradeep, Head – Personal Loan, Muthoot Finance 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: “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.”

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Ujjivan SFB partners with NIRA to provide personal loans, BFSI News, ET BFSI

Banking & Finance

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Ujjivan Small Finance Bank announced its collaboration with fintech NIRA as a part of its strategy of leveraging its API Banking platform for fintech partnerships.

Through this partnership, salaried customers can apply for a Personal Loan by using the NIRA app which is available in the play store.

NIRA is a Bangalore based fintech that helps to fund the salaried class, starting at incomes as low as Rs. 15,000 per month. This partnership will help Ujjivan SFB to on-board customers for Personal Loans.

Dheemant Thacker, Head – Digital Banking, Ujjivan Small Finance Bank said, “A robust API Banking framework to enable fintech partnerships such as NIRA is at the core of our digital strategy and helps augment our digital expansion. Collaboration with fintechs like NIRA plays a vital role in the financial ecosystem, especially to serve the mass market. Such partnerships will help us to reach out to more customers with better products and offerings with ease and convenience.”

Manish Kumar Raj, Business Head – Personal Loan, Ujjivan Small Finance Bank said, “We have been actively pursuing this partnership and many others in our quest to serve every segment of customers. NIRA with their very diversified approach gave us this opportunity and we hope this will be a successful collaboration.”

Rohit Sen, CEO and cofounder at NIRA said “After navigating the COVID crises extremely well, we’re now refocusing on our mission to bring credit access to the urban mass market in India.”

“We’ve developed strong expertise in credit scoring and collecting from this group, and in collaboration with banks such as Ujjivan SFB, we can deliver the right product in a timely manner to this segment” added Rohit.

Ujjivan SFB selects fintechs for partnership which identify and solve specific needs of this segment at large. The bank also has an extensive set of APIs for faster integration with fintechs and start-ups.

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