Eazzy Loan Application Process: A Step-by-Step Guide

Equity Bank customers in Kenya 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 instantly. No guarantors are required, but eligibility is based on factors such as your banking history and income level.

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.

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Eazzy Loan Eligibility Requirements

  • Have an active Equity Bank account for at least 6 months and an active Equitel Line or Eazzy App linked to your account.
  • Channel your income (e.g., salary, profits, farm proceeds) through your Equity account to improve your credit limit.
  • Activate your Equitel SIM card using your original national ID or other valid identification at any Equity Bank branch, ATM, or agent with a POS device. Visit the Equity Bank website for a complete list of accepted documents.
  • Meet Equity Bank’s creditworthiness criteria.
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Check Your Eazzy Loan Limit in 4 Easy Steps (Equitel Menu)

Want to know how much you can borrow with an Eazzy Loan? Follow these steps on your Equitel SIM card menu:

  1. Go to the Equitel Menu and select My Money.
  2. Select Loans.
  3. Choose Eazzy Loan.
  4. Now, select Loan Limit.

Note: This method applies to the Equitel SIM card menu. You can also check your loan limit through the Eazzy Banking app or the Equity Bank website. Remember, your loan limit might change based on various factors. Please refer to the official Equity Bank website for more information and complete terms and conditions.

Check eazzy loan limit
Steps on checking how much you can borrow.

Read: Equity Bank Agency and Equitel Money Transfer Rates.

2 Ways to Apply for Eazzy Loan by Phone

1. Dialing 247# (Any Mobile Network):

  • Select Eazzy Loan.
  • Choose Get Loan.
  • Select your preferred loan type:
    • Eazzy Loan: Borrow between Ksh. 100 and Ksh. 200,000 for 30 days (interest rate: 1.5% per day).
    • Eazzy Plus Loan: Borrow up to Ksh. 3,000,000 with a flexible repayment period of up to 12 months (interest rate: negotiable).
  • Enter the desired loan amount and repayment period.
  • Select the account for loan deposit.
  • Confirm details and accept.
  • Enter your PIN to accept terms and conditions.
  • Receive an SMS confirmation.
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How to apply for eazzy loan

2. Through Equitel Line:

  • Go to Equitel Menu.
  • Select My Money.
  • Choose Loans.
  • Select Get Loan.
  • Choose your preferred loan type (as mentioned above).
  • Select the account for loan deposit.
  • Enter the desired loan amount.
  • Confirm details and enter your PIN.
  • Submit and receive an SMS confirmation.

How to Repay Your Loan

Here are two convenient ways to repay your Eazzy Loan:

1. Using Your Equitel Line:

  • Go to the Equitel Menu.
  • Select Eazzy Loan.
  • Choose Pay Loan.
  • Select your preferred option:
    • Partial Payment: Enter the amount you want to pay towards your outstanding balance.
    • Full Payment: Choose this option to settle the entire loan amount.
  • Select the Account to repay from.
  • Enter the amount of money you want to repay.
  • Confirm that the details are correct.
  • Enter your PIN to complete the transaction.

2. Using M-Pesa:

  • Go to the M-Pesa Menu.
  • Choose Lipa na Mpesa.
  • Select Pay Bill.
  • Enter 247247 as the business number.
  • Enter your Equity account number as the account number.
  • Enter the amount of money you want to repay.
  • Enter your M-Pesa PIN.
  • Confirm the details and submit.

Important Reminders:

  • Ensure you have sufficient funds in the selected account before initiating repayment.
  • Partial payments will reduce your outstanding balance but won’t stop interest accrual.
  • Make timely repayments to avoid penalties and maintain a good credit history.
  • For alternative repayment options or assistance, contact Equity Bank directly.
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Disclaimer: Borrowing money comes with risks. Ensure you understand the interest rates, repayment terms, and potential late fees before applying for a loan.