Eazzy Loan from Equity Bank: How to Apply and Repay

by | Mar 14, 2022 | BUSINESS | 3 comments

Equity Bank customers can easily request a mobile soft loan from the comfort of their phones using the Equitel SIM card menu by dialing *247#, or through 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, in addition to one-time service charges

Requirements for Eazzy Loan

To qualify for a mobile loan:

  1. You must have had an active Equity Bank account for the last 6 months.
  2. You should have an active Equitel Line or Eazzy App.
  3. Your income (e.g. salary, profits, farm proceeds) should be channeled through the account to enhance your credit limit.

Your Equitel line should be linked to your bank account.

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.
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Read Equity Bank Agency and Equitel Money Transfer Rates.

How to Check Your 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. Under the Eazzy Loan option, you can borrow between Ksh. 100 and a maximum of Ksh. 200,000 for a repayment period of 30 days.

On the other hand, Eazzy Plus allows you to request loans of up to Ksh. 3,000,000, with a repayment period of up to 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 the 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.
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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.

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  1. Lucy chebon kubarak

    Equity bank is the best I was asking for small loan from your bank.

  2. Lucy chebon kubarak

    Good job

  3. Lucy chebon kubarak

    Like equity


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