Many people are attracted to mobile loans when it comes to seeking credit because they are easier to access and are disbursed faster.
Eazzy loan app from Equity Bank limited is one such mobile loan app.
It is perfected through the Equitel app.
Equitel is an easy-to-use and secure mobile phone platform that helps you manage your money and carry out all your financial transactions on your palm.
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How to contact the Eazzy loan app.
- P.O.Box 75104-00200, Nairobi. Pilot Lines: +254763026000
- Fax: 020-2737276
- Email: firstname.lastname@example.org
- Contact Centre: 0763063000
- Contact Centre Email: – email@example.com
- Shares: firstname.lastname@example.org
- Customer Care: – email@example.com
- Loans: firstname.lastname@example.org
- Website: www.equitybankgroup.com
Products and Services
- Eazzy loans
- You can pay for bills, goods, and services from your phone.
Simply look out for outlets with an EazzyPay sign; at shops, supermarkets, airlines, petrol stations, hotels as well as online.
How to get Equitel Eazzy Loan.
To access an Equitel Eazzy loan you will need an Equitel sim card on your phone.
You can get an Equitel line from an Equity Bank branch near you or even from Equity agents across Kenya.
All you need is an original national identity card for Kenya or an original valid passport, an original & valid alien card, and a valid work permit for foreigners.
How to borrow a loan from Equitel Eazzy loan.
1. Open your Equitel menu on your phone.
2. Go to my money.
3. Click loans.
4. Open get loan.
5. Select Eazzy loan.
6. Select account.
7. Enter the amount you would like to borrow.
8. Confirm the details.
9. Enter your pin.
10. Press okay.
How to repay the Eazzy Loan
1. Open the Mpesa menu on your phone.
2. Go to the Lipa na Mpesa option.
3. Choose Paybill.
4. Key in the Eazzy loan paybill number as 247427.
5. Enter your account number.
6. Enter the amount you wish to repay.
7. Enter in your M-PESA pin.
8. Confirm the transaction.
Eazzy Loan app Terms and Conditions.
You become eligible to apply for Eazzy loans if you have an active bank account with Equity Bank.
The term active in this case means that you must have transacted through your equity account over the previous six months when applying for the loan.
You should also have an Equitel sim card on your phone.
Equitel mobile loan interest rates range between 2% and 10 % per month.
More specifically, Equity bank prices 1 percent loan appraisal fee and an additional 10 percent on the evaluation fee, as a government tax.
This implies that if you borrow 2,000 Kenya shillings:
1. The loan appraisal fee charged by Equity Bank is 1 percent of Ks. 2,000 which is equal to Kshs. 20.
2. The Kenyan government’s tax is 10 percent of the appraisal fee (Ksh. 20) Kshs. 2
3. This implies that the total charges are Ksh. 22 beside a monthly interest rate of 1.16 percent (A reducing balance).
Eazzy Credit Limits.
There are two types of Eazzy loans, Eazzy Loan and Eazzy plus loan.
For the Eazzy loan, you can obtain any amount between Ksh. 100 and Ksh. 200,000 while for the Eazzy plus loan, you can acquire up to Ksh 3,000,000.
Failure to repay a loan may lead to your details being forwarded to the CRB.
You are rewarded by higher loan limits for paying your loans on time.
What is unique about Equitel Its Loans?
- You can use your Equitel line to send and receive cash.
- Just like a normal sim card the line can send and receive messages. It can also access the internet.
- You can pay to any sellers equity account from the equitel line.
- You can settle your bills through Equitel loan.
Equitel loan has helped a lot of small businesses, is reliable, and very easy to use.
Who can benefit from Eazzy Loans.
- Small business owners.
- Citizens who have an account with Equity bank.
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