FAQ
The Answers to All Your Questions
Find quick answers to common questions about our loans and services. We have grouped them by topic for easy reading. For more help, contact our support team directly.
Loan extension is a simple feature provided by UrbanMoney that helps users to extend their loan for 15,30 and 45 days by paying a small fee.
There are multiple criterias we go through during KYC, if you do not match any of these factors we do not approve your KYC, although you can apply again after 30 days to check if you match the criteria or not.
In order to maintain the highest quality and ensure that the security of our services is always at par, UrbanMoney has a profile analysis model in place to audit and evaluate all the applications which makes a decision on approving a profile. Our goal is to increase our ability to serve – but to ensure great user experience, we need to approve a limited number of users in a certain amount of time to be efficient. Getting in the Waitlisted queue means that at the time, by the criteria used in our model, we can not offer our services to you – but, only at this moment. So you can probably calm down as that might change soon. We are always testing new criteria, adding new parameters to our databases and calibrating our models. We understand that people are changing – just like our criteria and our ability. Not getting approved does not mean that your profile has issues. It just means that we were not able to meet your profile at that time, or we don’t have enough information to evaluate your request. We look forward to serve you in future!
KYC is usually processed within 24 hours of applying. There is sometimes a delay of some hours when our office staff is on leave like Sunday or Holi, Diwali etc.
We try to disburse your loan instantly after KYC approval. However, there may sometimes be a short delay due to bank server issues. In that case, please contact us at [email protected] and we will resolve it quickly.
Getting a personal loan with UrbanMoney is quick and simple:
- Download the UrbanMoney app from Google Play Store.
- Sign up using your basic details.
- Select the loan amount you need.
- Upload the required documents (like ID proof).
- Get instant approval and receive the amount directly in your bank account.
UrbanMoney is designed especially for students, so the process is 100% paperless and hassle-free.
A PAN card is a mandatory KYC document for getting a loan with UrbanMoney. It helps verify your identity and is required under RBI regulations. If you don’t have one yet, we recommend applying for a PAN card before submitting your loan request.
Yes! UrbanMoney offers collateral-free personal loans to students. You don’t need to pledge gold, property, or any asset—just your KYC documents and basic eligibility criteria are enough.
Yes, UrbanMoney partners with registered NBFCs and reports to all major credit bureaus, including CIBIL, ensuring your credit activity is regularly updated and monitored.
If you are not able to repay due to a valid reason please reach out to us on [email protected] and we will try our best to help you out. If you still do not pay back we do report to CIBIL as well as reach out to you. Finally we proceed with a legal case against the user.
UrbanMoney gives a fixed Credit Limit based on your salary when you onboard with us but your credit limit does increase based on your repayment history with us. If you have a good repayment history and credit score with us we assure you that your credit limit will increase with time.
Yes, you can update your bank account or UPI ID at any time. However, the name on the bank account or UPI ID must match your registered name. If it does, the update will be processed smoothly.
The loan tenure at Urban Money is between 61 and 90 days. Additionally, you can repay early if you wish. There are no penalties for early repayment.
Yes, you can. Urban Money does not require a salary slip from students. Our platform is built for young borrowers who may not have formal employment. We use simple eligibility checks instead.
Yes, absolutely. You do not need a job to apply. Urban Money is designed specifically for students. Therefore, employment is not a mandatory requirement for loan approval.
Yes, you can. Urban Money is built for students who may not have a steady income. Instead of traditional income proof, we use alternative verification methods. This makes it easy for students to access funds when they need them most.
Loan extension is a simple feature provided by UrbanMoney that helps users to extend their loan for 15,30 and 45 days by paying a small fee.
There are multiple criterias we go through during KYC, if you do not match any of these factors we do not approve your KYC, although you can apply again after 30 days to check if you match the criteria or not.
In order to maintain the highest quality and ensure that the security of our services is always at par, UrbanMoney has a profile analysis model in place to audit and evaluate all the applications which makes a decision on approving a profile. Our goal is to increase our ability to serve – but to ensure great user experience, we need to approve a limited number of users in a certain amount of time to be efficient. Getting in the Waitlisted queue means that at the time, by the criteria used in our model, we can not offer our services to you – but, only at this moment. So you can probably calm down as that might change soon. We are always testing new criteria, adding new parameters to our databases and calibrating our models. We understand that people are changing – just like our criteria and our ability. Not getting approved does not mean that your profile has issues. It just means that we were not able to meet your profile at that time, or we don’t have enough information to evaluate your request. We look forward to serve you in future!
KYC is usually processed within 24 hours of applying. There is sometimes a delay of some hours when our office staff is on leave like Sunday or Holi, Diwali etc.
After KYC approval is done, we try to disburse the loan instantly. In some cases there might be a delay due to Bank Server issues. In those cases you can reach out to us at [email protected]
Yes UrbanMoney is partnered up with registered NBFC and does report to all Credit Bureaus regularly including CIBIL.
If you are not able to repay due to a valid reason please reach out to us on [email protected] and we will try our best to help you out. If you still do not pay back we do report to CIBIL as well as reach out to you. Finally we proceed with a legal case against the user.
UrbanMoney gives a fixed Credit Limit based on your salary when you onboard with us but your credit limit does increase based on your repayment history with us. If you have a good repayment history and credit score with us we assure you that your credit limit will increase with time.
Yes, as long as the name on the Bank Account or UPI ID is your name, you can update the same.
The Loan tenure for every loan is 61 to 90 Days. You can repay early if you want.