OYE Loans Details

Loan amountRs. 10,000 to Rs. 1,00,000
Rate of interest1.5% to 2.5% per month
Tenure12 months
Processing fee3% of the loan amount (+ GST)
Prepayment chargesNil
Lowest EMI per lakhRs. 9,168
Age20 years or above
Net monthly take home Minimum Rs. 15,000
TAT for approval1 business day after loan application & documents submission

Types of OYE Loans

There are different types of loans that are provided based on the requirement of the customer. These loans are available in four main categories namely:

1. Personal Loans

Personal loans are provided to help you raise enough funds when you have an unexpected financial emergency. These loans can be used for any expenses towards functions, travel, higher education, medical emergencies and a lot more. There are different sub categories with these loans as follows.

Type of Personal LoanDescription
Instant LoanGet access to funds in just 24 hours to meet any financial emergency.
Instant Personal LoanThis application process for this loan takes less than five minutes and the approval is instant.
Cash LoansGet money transferred to your bank account directly and repay in easy instalments.
Quick loansGet up to 1 Lakh in just 1 hour or a maximum of 24 hours. This short term loan is disbursed into your account immediately on approval.
Unsecured loansGet a personal loan without pledging your asset or providing any collateral. These loans ensure easy paper work and even simpler repayment terms.
Mini LoansThese short term loans are ideal to help you stretch your monthly budget just a little more to meet requirements like travel and others.

2. Consumer Loans

These short-term cash loans help you invest in necessary consumer durables. You do not have to worry about giving up on any monthly expense to save up for them anymore. All you have to do is apply for a consumer loan with OYE loans. These loans are available quickly and are also easy to repay.

Type of Consumer LoanDetails
Laptop LoanYou can now buy a new laptop or exchange your old one for any studying, designing, gaming or working purposes. No matter what you require it for, you no longer have to think twice before investing in a good quality laptop.
AC LoanPrepare for the soaring temperatures in summer with a good quality Air conditioner. You do not have to compromise on the features just because of a tight budget anymore.
Mobile LoanWant to upgrade to the latest mobile phone? Today, a good quality smartphone is not just a luxury. With video calls, designing, photography and several other functions available on this device, you need to make sure that you are updated.
TV LoanBuy a television with the screen size and technology that you desire without worrying about the price.
Fridge LoanIf you wish to exchange an old fridge or purchase a new one with modern amenities, this is the perfect loan for you.
Washing Machine LoanUpgrade to a washing machine with high end features so that you can be rid of this mundane task forever.

3. Vehicle Loan

Your dream motorbike is just a few clicks away. OYE loans funds both new and used two wheelers. These loans are quick, affordable and extremely easy to repay.

Type of Vehicle LoanDetails
Two wheeler loanPurchase a brand new two wheeler of your choice with loans up to 1 Lakh. You can even exchange your existing bike for a new one for better deals.
Used two wheeler loanOYE loans also offers short term loans if you wish to purchase a second hand bike.

Other Loans

There are several other occasions when you need immediate financial assistance.

To help you meet these emergencies as they arise, OYE loans has a list of different loan options for you as mentioned below:

Type of LoanDetails
Home renovation loanFor any renovations or repairs in your home, you can avail a home renovation loan of up to 1 Lakh with OYE loans.
Marriage LoanDon't compromise on your dream wedding. If you are running slightly out of budget, you can avail a marriage loan with OYE Loans to make all your dreams come true.
Travel LoanPostponing travel plans because of budget crunches? You can now make all your travel plans a reality with easy travel loans by OYE loans to take care of bookings, forex and other requirements.
Salary AdvanceYou can now get your salary earlier in the month to meet any financial emergency.
Medical loanMedical emergencies always come up when short-termleast expected. However, you can be prepared for them with our medical loans that can be availed within 24 hours to pay towards hospital fees, consultation charges, scans, x-rays and any other medical procedures. 
Education loanIf you wish to pursue a short term course or are in the need of some additional funds to fulfill your higher education plans, you can get the loan that you need to pay the tuition fees or other expenses related to your studies.
Debt Consolidation LoanRepay your existing loans and reduce the installments that you pay each month. These loans help ease your financial burden and also help you improve your credit score.

Features of OYE Loans

To help you get instant access to the funds that you need, OYE loans are loaded with several beneficial features. Here is a list of the features that you can make the most of with OYE loans:

  • Loan amount: The loan amount that is provided to customers is based on the repayment capacity. With OYE Loans, you can get funds between Rs. 10000 and 1 Lakh to suit your requirements.
  • Interest rate: There are several factors such as the income, the credit score and the social media score of the customer that determine the interest rate. The OYE loan interest rate for these loans varies from 1.5% to 2.5% per month.
  • Processing fees: At the time of disbursement of the loan, a processing fee of 3% of the sanctioned loan amount plus GST is payable by the customer.
  • Repayment tenure: OYE provides short term loans based on various needs of the customer. You can get a repayment tenure of up to 12 months with all the loans.
  • Prepayment charges: You can repay the loan before the end of the tenure without paying any additional prepayment charges.
  • Collateral security: These loans require zero collateral security for approval.

Why Apply for OYE Personal Loans?

OYE Loans are designed for the tech savvy gen next. You no longer have to wait in queues or even leave the comfort of your home or office to avail a loan when you need it.

Here are some of the main benefits of choosing OYE Loans to get credit facilities in case of an emergency:

  • Get a loan on the go: The entire application process is online, helping you apply for a loan on the go. You can apply for the type of loan that you need through the website or the mobile application. All you have to do is enter the amount that you need, share the necessary details and upload a few documents.
  • No collateral needed: If you do not have assets to pledge against the loan, you do not have to worry. These loans are completely collateral free. The assessment of the loan is also faster when you do not have to provide any security against it.
  • Minimal documentation: The only documents that you need to avail these loans are your KYC documents and bank statements. Even these documents can easily be uploaded online.
  • No Credit history required: Unlike any traditional bank, OYE Loans does not require your credit history in order to process and approve your loan. They use innovative methods to check the eligibility and the repayment capacity of the customer in order to approve the loan. This includes your social media activity as well.
  • Quick funding options: The application process only takes five minutes. You can get an approval on your loan and quick disbursal in just an hour or a maximum of one day. So, if you have any financial emergency, you can always be prepared with these loans.

OYE Loans Personal Loan EMI Calculation

You can conveniently calculate your OYE Personal Loan EMI online using our personal loan EMI calculator. The tool uses the following to calculate the EMI instantly:

  • Loan Amount
  • Interest Rate
  • Tenure

Apart from calculating the EMI, this EMI Calculator tool also shows you the amortization schedule for loan repayment.

Here’s an example:

  • Personal loan amount required: Rs. 1 Lakh
  • Applicable rate of interest: 18% p.a.
  • Tenure: 1 year
  • EMI to be paid each month till the tenure ends: Rs. 9,168
  • Total interest to be paid: Rs. 10,016
  • Total amount to be paid to the lender: Rs. 1,10,016

Amortization schedule of the above example:

YearOpening BalanceAmount Paid by Customer (EMI*12)Principal Paid During the YearInterest Paid During the YearClosing Balance
1Rs. 1,00,000Rs. 1,10,016Rs. 2,885Rs. 15,451Rs. 0

Documents Required for OYE Loans

The documents required to apply for personal loan at OYE Loans are as mentioned below:

  • Proof of identity: PAN Card
  • Proof of address: Passport or Aadhaar Card
  • Proof of employment: Office ID Card
  • Salary slips: You will have to upload original pay slips (preferably along with PF details) if you don’t have any original office ID card.
  • Bank statements: Last 3 - 4 months of salary bank account statement, showing at least 3 salary credits. If your PDF bank statement is protected by a password, you will have to share your password. OYE Loans has also partnered with Perfios to give an alternative option for uploading your bank statements. With this, you can download your salaried bank account statement by sharing your net banking login information.

OYE Loans Eligibility Criteria

The personal loan eligibility criteria for OYE Loans are as follows:

  • Applicants should be aged 20 years and above.
  • Applicants should be currently employed full-time and getting salary credited directly in their bank account.
  • Applicants should have a net monthly take home income of more than Rs. 15,000.
  • Applicants should be residing and working in cities where OYE Loans is operational.
  • Currently, OYE loans are available in Bengaluru, Chennai, Coimbatore, Delhi, NCR, Hyderabad, Secunderabad, Mumbai, Mysore, Pune, and Kolkata.

OYE Personal Loan Charges

  • Processing fee: 3% on the approved loan amount + GST. The processing fee is deducted from the loan amount disbursed to you.
  • Default/ late payment fee: 1% of the outstanding principal balance + GST, or Rs. 500, whichever is higher. This fee is applicable if you miss the payment on your due date.

What is OYE Loans?

OYE brings together a team of world class financial experts who have a great track record of providing alternative lending options and credit scoring in India, the UK and the United States. This is an instant online loan platform that allows you to get credit facilities on the go through and easy to use website and mobile application.

OYE makes use of innovative methods to use the data that is available for unique credit scoring options that help provide easy access to credit based on the needs of the customers. Active experimenting enables customers to avail loans for different purposes, be it for any personal use, education, medical needs and a lot more.

What are Instant Online Loans?

Lending processes are becoming extremely fast and paperless in order to provide instant access to credit facilities to customers. Instant online loans are becoming a lot more popular in comparison to traditional loans as they save a lot of time not only for the customer but also the lenders.

Instant online loans help provide cash loans to customers within 1 hour of application based on the credit profile of the customer. Lenders like OYE loans help connect borrowers to top banks, NBFCs and other lenders across India to provide these instant loans. The unique feature of these loans is that they are available to customers even with a low credit score.

These loans make use of your social media activity besides the traditional CIBIL score to assess your repayment capacity. This is why you are able to get personal loans, salary loans, vehicle loans, same day loans and more even when you have a CIBIL score that low.

Who are the Lending Partners for OYE Loans?

Oye loans has partnered with some of the best lending institutions in the country. This includes:

  • Banks
  • Private Finance Lenders
  • Peer to Peer Lending Organizations
  • Direct Lenders
  • NBFCs
  • The borrower will be connected to a suitable lender based on the details provided in the application form.

Things You Can Use Your Instant Online Loan for

The instant online loans availed through OYE Loans can be used for the following:

  • To take care of any unexpected financial emergency.
  • To pay medical bills.
  • To purchase consumer durables like mobile phones, laptops, ACs, TVs, Fridge and Washing Machines.
  • To purchase a new or used two wheeler.
  • For travel expenses.
  • For wedding expenses
  • To consolidate existing debts.
  • To repair or renovate your home.
  • To purchase furniture and other commodities for your home.
  • For higher education.

OYE Loans Personal Loan Repayment

You can repay your OYE loans in the form of monthly installments. A NACH or ECS mandated is set up with your account once the loan amount is approved. This means that the EMI amount will be debited from your account automatically on the due date. You need to ensure that the balance in the account is sufficient enough to pay the EMI each month. When the NACH or ECS mandate is set up, the customer will receive a notification.

Customers also have the option of making an IMPS or NEFT transfer to the loan account directly. In case the payment has been made without using the OYE mobile app, the customer must send an email to info@oyeloans.com with details of the same.

OYE Loans Customer Care

If you have any query, feedback or complaint regarding OYE loans, you can fill up the feedback form available at the link mentioned below and the customer care team will get in touch with you shortly.


  • You can call OYE at 080 6807 0000 between 9am and 7pm from Monday to Friday
  • You can also send an email to info@oyeloans.com

The best offers from India’s most
trusted banks


Looking for Best Personal Loan Offer?

Fill the form by clicking on Apply Now Button and compare latest Interest Rate of all Banks/NFBCs for Instant and Quick Personal Loan Disbursal.

Oye Personal Loan FAQs

How do OYE loans work?


OYE Loans provides instant online loans to help you meet any urgent financial needs. All you have to do is select the loan amount and submit an online application on the website or app with necessary documents. OYE has partnered with major lending organizations including Banks, Private Finance Lenders, Peer to Peer Lending Organizations, Direct Lenders and NBFCs who provide loans based on the application.

How long does it take to provide any decision on the loan application?


After the application has been submitted with the necessary documents, the processing time will take up to 24 hours after which you will be notified if the loan has been approved or rejected.

Why is the loan amount that is approved lower than the amount that I had applied for?


The loan amount is sanctioned based on the creditworthiness and affordability checks carried out after the loan application is received. Therefore, the approved amount might be lower than the amount that you originally applied for.

Can I get multiple personal loans with OYE?


No. At a given time, a customer can have only one outstanding loan. Once you have repaid the current loan and closed the account, you may apply for another loan. Since all the details of the applicant are already with OYE, the second loan application process is much simpler.

Is it possible to get a top up on my current loan?


Currently OYE does not provide any top up facility. However, if the applicant has applied for a lower loan amount, he or she has the option to start a new application process with a higher amount while the previous one is still in progress.

What if I cannot repay the loan EMI on the due date?


In case you are unable to pay the loan on the due date, call OYE on 080 6807 0000 between 9am and 7pm from Monday to Friday or send in an email to info@oyeloans.com. This will help to find a solution. In case the due date is missed without prior information, a late payment fee is charged.

What are the options to repay the loan?


You can opt for an ECS or NACH mandate to have the EMI debited from your account on the due date automatically. You can also choose to make an IMPS or NEFT Transfer to the loan account. In case of repayments made without the use of the mobile app, an email must be sent to info@oyeloans.com with the details of the transaction.

Do I have to pay any processing fees for OYE loans?


Yes. A processing fee of 3% + GST of the approved loan amount is charged. This amount is deducted from the loan amount that is disbursed to you.

Can I prepay my loan?


Yes. You can make prepayments towards your OYE loans without any additional fees or charges.

The PDF of my Bank statement is locked with a password. What should I do?


You will have to provide the password for the PDF. The information is completely secure with OYE. Alternatively, you can use the Perfios app to capture your bank statement and send it across.

Why did my application for instant loan get rejected?


Your application is likely to get rejected only in case your application did not meet the company's eligibility criteria after their internal credit-worthiness checks. However, each case is different and once the exact reasons are conveyed to you, you can re-file the application after rectifying whatever was amiss the first-time.