MobiKwik and Nira are individual applications that provide features and several benefits. Nira is a specific loan application which makes it possible for any working professional to get a quick personal loan after meeting the eligibility. Similarly, MobiKwik also provides an instant loan, but it has many other features and services for which it is more widely known.
Discover the difference between the Nira loan and the MobiKwik loan below.
What is MobiKwik?
MobiKwik is an application which ensures hassle-free, fast, and simple payment for your various needs. Through MobiKwik, you can pay for your DTH or phone recharge through the MobiKwik wallet. You can also pay for a variety of bills while also avoiding any charges for late payments. With the app, you also get many shopping options that allow you to earn huge discounts and cashback.

Alongside this, MobiKwik simplifies every EMI payment of personal loans and provides instant loans. You can use MobiKwik on every application, be it your phone, laptop or tablet. MobiKwik is flexible and provides the same benefits on every device while giving you an instant MobiKwik loan within seconds.
What is Nira?
A personal loan application, Nira provides instant cash loans, personal loans, small loans, and mobile EMI loans without checking your credit score. The personal Nira loans are provided through a credit limit, which extends to Rs. 100,000. Nira loans have several benefits, such as providing low-interest rates, processing the entire loan digitally, providing a flexible repayment plan, and giving quick support.

Nira loan also comes with a specific loan amount for salaried professionals. For Nira loans, the CIBIL score is not compulsory and is meant to provide you with the funds as soon as possible, with less hassle.
Difference between MobiKwik Loan and Nira Loan
Between MobiKwik and Nira loans, there exist many differences, and some of these differences are the following –
- MobiKwik is an application that provides instant loans and many other services. On the contrary, a Nira loan is an application that only provides different kinds of loans, which is what it is known for.
- The loan amount from Nira can be anywhere between Rs. 5000 to Rs. 100,000. Whereas, for MobiKwik loans, you can only get up to Rs. 60,000 in your MobiKwik wallet.
- A Nira loan is an application which places an interest on you upon taking a personal loan. And this interest can be anywhere between 24% to 27% per annum. On the contrary, MobiKwik has a facility of 0% interest with the on-time settlement of the loan.
- Regarding the payment of loans, Nira has a prepayment charge of 2.5% in case you want to pay your loan before three months. Once it has been three months since taking your loan, you can pay it off entirely free of cost. Comparatively, MobiKwik has no such condition.
- With Nira, you can get top-up loans, given that you already have an existing loan with Nira. On the contrary, MobiKwik does not have any top-up loans.
- Nira has not made it mandatory for you to reveal your credit score, but you can apply for a personal loan only when you possess a credit score of at least 661 or more. Whereas MobiKwik does not consider your credit score for the loan, timely loan payments would increase your credit score.
- For the MobiKwik loan, there is minimal eligibility. For the loan, you would have to provide the most basic identification details to get the funds. Whereas, for the Nira loan, your age needs to be at least 21 to get the loan, along with having a college degree. You would also have to have a minimum salary of Rs. 20,000 or more and a working experience of at least six months.
Conclusion
Just like MobiKwik and Nira have many differences, they also have many similarities, such as both provide instant personal loans with quick and minimal documentation. Both applications have a similar objective of providing you with simple and hassle-free ways of getting a loan or, in the case of MobiKwik, being able to pay your bills.