How to Apply for Eazzy Mobile Loan from Equity Bank

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Equity Bank customers can easily request for a mobile soft loan right from the comfort of their phones, using the Equitel SIM card or the Eazzy Banking app. Equity Bank offers unsecured mobile Eazzy Loans ranging from Ksh. 100 up to Ksh. 3,000,000. No forms, paperwork or guarantors are required to apply for the mobile loan from Equity Bank.

Currently, Equity bank charges an interest rate of 13% per annum or 1.16% per month plus additional one-time service charges.

Requirements for Eazzy Loan

You must have had an active Equity Bank account or an active Equitel line for a period of at least 6 months.

To get an Equitel SIM card, all you need is an original national identity card or an original valid passport or alien card and a valid work permit for foreigners.

You can get an Equitel SIM card from any Equity Bank branch or agent country-wide.

Before using the SIM card, you need to activate it in any of the following ways:

  • At any Equity Bank branch using your original national identity card.
  • In any Equity bank ATM using your Equity debit card.
  • At an Equity Agent using a POS device and your Equity debit card.

With your Equitel line activated and mobile banking services linked with your bank account, you can now request for an Equity Bank unsecured mobile loan.

Read Also:   Equity Bank Branches in Kenya and their Contacts

How to Check Eazzy Loan Limit

To find out how much money you can borrow do the following on your Equitel line:

  • Go to Equitel Menu
  • Choose My Money
  • Select Loans
  • Select Eazzy Loan
  • Now, choose Loan Limit.

Check eazzy loan limit

How to Apply for Eazzy Loan

Equity Bank offers two types of mobile loans; Eazzy Loan and Eazzy Plus Loan.

With the Eazzy Loan option, you can borrow between Ksh. 100 to a maximum of Ksh. 200,000 for a period of 30 days.

On the other hand, Eazzy plus allows you to request loans up to Ksh. 3,000,000 payable within 12 months.

Here are simple steps to follow when applying for a loan on your Equitel line:

  • Go to Equitel menu
  • Select My Money
  • Select Loans
  • Next, select Get Loan
  • Select Loan Type
  • Select Account the Money should be deposited to
  • Enter Amount
  • Confirm the Details
  • Enter your PIN and Submit.
  • You will receive an SMS confirmation

How to Repay Your Eazzy Loan

Here are the several ways you can repay your Eazzy loan:

Repay Loan from Equitel Line

  • Go to Equitel menu
  • Select Eazzy Loan
  • Select Pay loan
  • Choose  either Partial Payment to pay part of the loan or Full Payment to repay the whole of it
  • Select Account to repay from
  • Enter the amount of money you want to repay
  • Confirm that the details are correct
  • Next, enter your pin to complete the transaction.

Repay Your Loan from MPesa

  • Go MPesa menu and choose Lipa na Mpesa
  • Choose Pay bill
  • Enter 247247 as the business number
  • Next, Enter your Equity account number, as the account number
  • Enter the amount of money you want to repay
  • Next, enter your Mpesa PIN
  • Confirm the details and submit.
  • You will receive confirmation messages from Equity Bank and MPesa.