Olyv EMI Calculator
Calculate monthly installment, net disbursed amount in bank, processing fees, and GST for Olyv (formerly SmartCoin) instant loans.
📱 Loan & Fee Parameters
SmartCoin / Olyv ModeDisbursal & Fee Summary
How Olyv (SmartCoin) Personal Loan EMI & Disbursal Work
Olyv (formerly known as SmartCoin) is one of India's leading digital personal loan apps offering instant loans up to ₹5 Lakhs to salaried and self-employed individuals. When borrowing from instant fintech apps, it is important to understand the difference between your Gross Loan Amount and your Net Disbursed Amount.
1. Upfront Fee & GST Deduction
Fintech loan apps deduct their processing fee (usually 2% to 3.5%) plus mandatory 18% GST directly from your approved loan principal before transferring the money to your bank account.
2. Reducing Balance Interest
Your monthly EMI is calculated using standard reducing balance interest rates (e.g. 18% to 36% p.a.). As you pay each EMI, the interest charged in subsequent months decreases as the outstanding principal drops.
Frequently Asked Questions (FAQs)
Why is my bank disbursal lower than my approved Olyv loan?
Because digital lenders deduct the one-time processing fee along with 18% GST upfront. For example, on a ₹50,000 loan with a 2.5% fee, ₹1,475 (₹1,250 fee + ₹225 GST) is deducted, so ₹48,525 is credited to your bank account.
What is the loan tenure available on Olyv?
Olyv offers flexible repayment tenures ranging from short-term 2 months up to 24 months, depending on your credit profile and loan amount.
Can I foreclose or prepay my Olyv loan early?
Yes, you can prepay or close your active loan early through the Olyv app. Check the app terms for any minimal foreclosure charges that may apply.