Summary
- What is the Equity Bank Eazzy Loan?
- How can I qualify for an Eazzy loan?
- How can I get an loan from Equity Bank in Kenya ?
- How to contact Equity bank’s customer service ?
- What is the repayment percentage of the Eazzy loan?
- How to pay your Eazzy loan?
- What are the benefits of Equity bank’s Eazzy loan in Kenya?
- Frequently asked Questions
- Conclusion
A few years ago, Marc, a Kenyan entrepreneur, found himself in a difficult financial situation. He wonders how to get a loan from equity bank Kenya?
If you too, like Marc, need a quick loan to save your business or get out of a difficult situation. Praise God, in this article we are going to lead you on the path to know how to get an Eazzy loan from Equity Bank in Kenya.
What is the Equity Bank Eazzy Loan?
Before going into detail, you should know that the Eazzy loan is a credit opportunity offered by Equity Bank which allows its customers to borrow amounts ranging from KSh 1,000 to KSh 3,000,000 directly on their mobile phone under certain conditions .
If you are a worker or entrepreneur who has a regular income, this loan can help you in case of problems.
How can I qualify for an Eazzy loan?
To be eligible for an Eazzy loan, you must first have an active account with Equity Bank for at least six months.
Apart from that, you must also have an active Equitel line or use the EazzyApp mobile application. That is to say that your account is active by transmitting your income such as salaries, agricultural income or business income.
How can I get an loan from Equity Bank in Kenya ?
To get an Eazzy loan from Equity Bank, you have two convenient options. You can use the Equitel menu on your phone or the Equity mobile app.
Method 1: Using the Equitel line
- Access the Equitel menu by dialing *237#.
- Select “My Money”.
- Choose “Loans”.
- Select “Get Loan”.
- Choose the loan type.
- Select the account.
- Enter the amount.
- Confirm the details.
- Enter your PIN.
Method 2: Using the Equity Mobile App
- Log in to your Equity account (if you haven’t already).
- Select “Borrow”.
- Choose “Get a loan”.
- Select the loan type.
- Enter the desired amount.
How to contact Equity bank’s customer service ?
If you have any questions or need assistance, you can contact Equity Bank using the following details:
Address: Upper Hill – Hospital Road, Equity Centre, 9th Floor, P.O.Box 75104-00200, Nairobi.
Email: loans@equitybank.co.ke
Telephone number: +254763026000
What is the repayment percentage of the Eazzy loan?
Regarding Eazzy loan fees, here is an overview:
- Monthly loan fee: 1.08% (equivalent to 13% per year, divided by 12 months).
- Processing fee: 5%.
- Insurance costs: 1%.
- Withdrawal fees: None.
- Late fees: Flat rate of 5%.
- Other costs: 10% excise duty.
How to pay your Eazzy loan?
To repay your Equity Bank loan, you have several options including M-Pesa, Equitel Line and the Eazzyapp mobile application.
This article may also be interesting for you How to transfer money from UBA to another bank in Nigeria?
Method 1: Using M-Pesa for payment
- Go to your Safaricom toolbox by dailing *334# and select “Lipa na Mpesa”.
- Choose the bill payment option.
- For Business Number, enter 247247.
- For account number, enter your Equity account number.
- Indicate the amount you want to repay.
- Enter your M-PESA code.
- Confirm the details before submitting the request.
Method 2: Using the Equitel app
- Access your Equitel SIM card toolkit.
- Choose “Eazzy Loan”.
- Select “Pay Loan”.
- Depending on the amount available, choose “Partial Payment” or “Full Payment”.
- Select the account.
- Enter the amount you want to repay.
- Confirm the details, then enter your PIN to complete the transaction.
Real also this article : How to get equity bank statement in Kenya ?
What are the benefits of Equity bank’s Eazzy loan in Kenya?
As benefits, Eazzy loan can go up to KSh 3 million instantly on your phone. And it offers a long repayment period of up to 24 months depending on the terms of payment.
Frequently asked Questions
How do I increase my Eazzy loan limit?
To increase your loan limit, it is important to maintain a good transaction history on your Equity Bank account.
The more transactions your account has, the greater the loan limit.
No, all applicable loan fees are clearly stated in the pricing guide available on the Equity Bank website. You just need to read carefully before validating the loan.
Can I repay my Eazzy loan before the due date?
Yes, it is entirely possible to repay your loan before the due date without incurring additional penalties.
How can I contact customer service if I have a problem with EazzyApp?
In case of any problem or complaint, you can contact Equity Bank customer service via email, telephone or through their website. They aim to resolve complaints within 7 business days.
Conclusion
To be close to its customers, Equity Bank offers borrowing opportunities to certain users who meet the conditions.
In short, Equity Bank’s Eazzy loan is a breath of fresh air for Kenyan entrepreneurs. It simplifies the borrowing process and makes it accessible to almost everyone, which is a real boon in today’s economic climate.
