How to apply and repay Eazzy loan

Today, most banks and credit firms are turn to mobile phones to better provide their services and Equity bank is not left behind. Eazzy loan is a brainchild of Equity bank provided courtesy of their Equitel SIM card and Eazzy banking app. Get an Eazzy loan instantly on your phone without any hassle. You don’t have to fill in any forms and no need for guarantors.

 What’s more, you can monitor your loan balance and make repayments through your Equitel line or use the Eazzy banking app. If you do not have an Equity Bank account, simply dial *247# using your current number and open one instantly, then pick your Equitel line from your nearest Equity Bank branch. You must have an active Equity Bank account for a minimum period of 6 months and an active Equitel line or Eazzy app.

Eazzy loan interest charges

Interest rates charged for Eazzy loan are as follows.

1. Eazzy loan interest rates range within 2% and 10% per month.
2. Equity bank prices 1% loan appraisal (evaluation) fee and an additional 10 per cent on the evaluation fee, as a government tax.

How to apply for Eazzy loan

You can request Eazzy loan using either your Equitel line or Eazzy banking app.

a. Equitel

To access Eazzy loan from your Equitel line, follow this procedure.

1. Go to Equitel menu.
2. Select “My Money”.
3. Select “Loans”.
4. Select “Get Loan”.
5. Select “Loan Type”.
6. Select “Account”.
7. Enter amount.
8. Confirm details.
9. Enter PIN.

b. Eazzy app

To access Eazzy loan from Eazzy banking app, follow this procedure.

1. Click on the navigation menu on the top left corner.
2. Log onto Eazzy banking app.
3. Select “Loans”.
4. Click on the (+) sign at the bottom right hand side.
5. Select “Request Loan”.
6. Select bank account that the loan should be deposited into.
7. Type in the amount you would like to borrow and click “Next”. (The sliding bar will become active and using the tool, you will be able to see payment details i.e., the loan duration, estimated amount due and estimated repayment date).
8. Confirm details, accept the terms and conditions and click “Request Loan”.
9. You will receive an SMS confirmation.

How to repay Eazzy loan

You can easily repay Eazzy loan using your mobile phone.

a. Equitel

To repay Eazzy loan from Equitel, follow this procedure.

1. Go to Equitel menu.
2. Select “My Money”.
3. Choose “Eazzy Loan”.
4. Select “Pay Loan”.
5. Select “Partial Payment” or “Full Payment”.
6. Select Account.
7. Choose the amount you wish to repay.
8. Confirm the details then enter your PIN.

b. M-Pesa

To repay Eazzy loan from Mpesa, follow this procedure.

1. Go to Mpesa menu.
2. Select “Lipa na M-Pesa”.
3. Choose “Pay Bill”.
4. Enter Business No. 247247
5. For Account No. enter your bank account number.
6. Enter the amount you wish to repay.
7. Key in your Mpesa PIN.
8. Confirm the transaction, and the send.