What is CampusDunia ?
India's Best Credit Line Platform empowering Gen Z & Young Millennial to learn more and
Can I take the money in cash and spend it on whatever I want? How?
Yes. You can transfer money from your app to your bank account and can use your regular ATM card to withdraw funds and use them as you wish or NEFT/IMPS to someone depending on your needs. The funds are yours.
Do I have to pay interest? Is it high?
You have to pay interest only on the funds you use. At the time of withdrawal, you can choose the terms of repayment, which can be anywhere between 3 months and 18 months. The repayment tenure you choose will determine your EMIs. The interest rate is equivalent to market rates for any ‘personal loan’ with zero collateral or security. It can be as low as 1.50% per month depending on the partner bank and the credit profile of the user.
What if I don’t need the funds right now?
Get approved for the limit now so that you can have money at your disposal whenever you need it. Once your credit limit is approved, you can access the funds 24 hours a day, 7 days a week at the tap of a button. The interest will be charged only on the amount you use and when you choose to use it. You will also get a CampusDunia Smart Card along with the app that can be used like a regular debit card. Use the card for shopping online or offline and get reward points. Act now and have peace of mind!
How do I apply for CampusDunia? Is it simple?
Yes, it’s as simple as 1, 2, 3!
1) Download: Install our free app from the Play Store and tell us a little bit about yourself. In a few minutes, we will tell you if you qualify for CampusDunia and your eligible credit limit.
2) KYC: Once you qualify, one of our agents, on behalf of our partner bank, will collect your documents at your house as a part of the KYC process.
3) Manage your money: You can easily apply for loan of your desired amount with just completing few formalities .
Once I download the app, how much time will it take to complete the application?
An average customer takes 10-minutes to qualify, after opening the app. The speed might vary depending on how fast you can type!
What happens if I don’t pay back?
The same consequences of not paying your credit card bill or bank loans apply. The Reserve Bank of India has nominated 4 credit agencies (e.g. CIBIL) that track your financial credit scores. If you do not repay or delay your repayment, our partner bank will automatically report it to these agencies, which will record the information. This can lower your credit score. Once your credit score is affected, you will not only lose CampusDunia access, but all your future loan applications will be negatively impacted. You might not be able to get loans easily to buy a house, a car or a two-wheeler or get a credit-card, as all the lending institutions in the country check with these agencies before approving your loan. The bank might also initiate legal recourse to recover the money from you. In short, please do not use the funds if you don’t think you cannot pay your EMIs on time!
Will I get an approval even if I apply on a holiday or beyond banking hours?
Yes! However, the KYC verification process might be impacted on holidays.
Can I Change/Cancel my request?
You can Change/Cancel your request before the final approval from CampusDunia team has been given.
How is the credit limit decided?
We decide the credit limit based on your profile, income, credit history and other factors. This limit can be increased, decreased or blocked based on the bank’s credit policies and the details you give on the app about yourself.
Will my credit limit change under any circumstance?
Yes. It can increase if you pay your EMIs and bills on time. There is a very good chance that our partner banks will raise your credit limit provided you have not taken too many other loans or seen a significant reduction in your income.
Is having CampusDunia good or bad for my credit score?
Good question. A good credit score is one of the important criteria for you to get Credit Cards/Home/Car/2-wheeler in the future. Once you start using CampusDunia and take out cash or EMIs and make timely monthly payments, you start building your credit history. In fact, taking credit and repaying them is the single most important way to improve your credit score. However, if you default or delay your monthly payments, your credit score will be impacted. Don’t worry, we will be reminding you regularly on your app so that you don’t miss your payments.
Who is eligible to apply for CampusDunia?
Anyone who meets the following criteria can apply:
Resident of PAN India
Salaried employees and self-employed professionals like doctors, lawyers, shop owners, business owners etc with a minimum monthly salary of Rs. 20,000
* 21 years of age and above
Before you open the CampusDunia app, please have the following information handy:
Bank statement of last statement