Olyv India

About Olyv in India

Founded in 2017, Olyv (formerly SmartCoin) started as an app-based consumer lending platform. We partner with RBI-registered NBFCs to offer fast consumer loans to the self-employed and salaried workers in India.

With Olyv, customers can get fast and easy, 100% digital loans that require no documentation and are paid directly into their bank account within minutes.

Terms and conditions

Features

• filling out the registration form takes only 5 minutes;
• convenient and fast loan servicing – 100% online;
• only 3 easy steps to get a loan;
• money transfer to a bank account within 24 hours;
• flexible repayment terms;
• possibility to extend the loan term;
• consultations and customer support throughout the whole process.

Lenders:

• Upmove Capital Private Limited
• Vivriti Capital Private Limited
• Northern Arc Capital Limited
• Incred Financial Services Limited
• PayU Finance India Private Limited
• Poonawalla Fincorp

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How to get loan ?

Step-by-step guide on how an Indian resident can take a loan through the Olyv app:

1. Download and Install Olyv App: Visit the Google Play Store or Apple App Store on your smartphone. Search for “Olyv” and download the app. Install it on your device.
2. Create an Account: Open the Olyv app and sign up for an account. You’ll need to provide your mobile number, email address, and create a password. Follow the on-screen instructions to complete the registration process.
3. Complete Profile and Verification: Once you’ve signed up, you may need to complete your profile by providing additional personal information such as your full name, address, date of birth, and identification details like Aadhar card or PAN card. Olyv may require you to undergo a verification process to confirm your identity.
4. Check Loan Eligibility: After your account is verified, you can check your loan eligibility within the app. Olyv will assess your creditworthiness based on factors like your income, credit history, and other relevant details.
5. Select Loan Amount and Terms: Once you know your eligibility, you can choose the loan amount you need and the repayment terms that suit you best. The app will display various loan options based on your eligibility.
6. Submit Loan Application: After selecting the desired loan amount and terms, you can proceed to submit your loan application through the app. Make sure to review all the details before submitting to avoid any errors.
7. Wait for Approval: Olyv will review your loan application and assess your eligibility. This process may take some time, so be patient. You may receive notifications or updates regarding the status of your application through the app.
8. Loan Disbursement: If your loan application is approved, Olyv will disburse the loan amount directly into your registered bank account. The time taken for the funds to reflect in your account may vary depending on your bank’s processing time.
9. Repayment: Once you receive the loan amount, you’ll need to repay it according to the terms agreed upon during the application process. Olyv may offer various repayment methods, including auto-debit from your bank account or manual payments through the app.
10. Manage Your Loan: Throughout the loan tenure, you can use the Olyv app to keep track of your loan details, view repayment schedules, and make payments. Make sure to stay updated on your loan status and fulfill your repayment obligations on time to maintain a good credit profile.

By following these steps, you can easily apply for and manage a loan through the Olyv app as an Indian resident.

How to pay a loan ?

Here’s a structured guide on how an Indian resident can repay an Olyv loan:

1. Loan Repayment Options: Olyv provides multiple repayment options to make it convenient for borrowers to repay their loans. These options typically include automatic debits from your bank account, manual payments through the Olyv app, or payment through designated payment gateways.
2. Check Repayment Schedule: Log in to your Olyv account through the app to access your loan details. Here, you can view your repayment schedule, including the due dates for each installment or the total amount due.
3. Set up Auto-debit (if applicable): If you’ve opted for auto-debit, ensure that you have sufficient funds in your bank account on the due date. Olyv will automatically deduct the installment amount from your registered bank account on the scheduled date.
4. Make Manual Payments (if applicable): If you prefer manual payments, navigate to the “Repayment” or “Pay Loan” section within the Olyv app. Here, you can select the option to make a payment manually. Follow the instructions to enter the payment amount and choose your preferred payment method.
5. Choose Payment Method: Olyv typically supports various payment methods such as UPI, net banking, debit cards, or other digital payment platforms. Select the payment method that is most convenient for you.
6. Enter Payment Details: If you’re making a manual payment, enter the required payment details such as your bank account information or payment card details. Double-check the information to ensure accuracy.
7. Confirm Payment: Once you’ve entered the payment details, review the transaction summary and confirm the payment. You may receive a confirmation message or email once the payment is successfully processed.
8. Monitor Repayment Status: After making the payment, monitor your loan account within the Olyv app to ensure that the payment reflects correctly. You should see the updated repayment status and any changes in your outstanding loan balance.
9. Stay Updated: Keep track of your repayment schedule and ensure timely payments to avoid late fees or penalties. Set reminders or enable notifications within the Olyv app to stay informed about upcoming due dates.
10. Contact Support (if needed): If you encounter any issues or have questions regarding your loan repayment, don’t hesitate to reach out to Olyv’s customer support team. They can provide assistance and guidance to help you resolve any concerns.

By following these steps, you can effectively repay your Olyv loan as an Indian resident, ensuring timely payments and maintaining a good credit standing.

FAQ