Eazzy Loan: How to Access Equity Microloans and Repay

EAZZY Loan is an easy way to acquire a loan from Equity Bank without necessarily visiting the bank. You can secure yourself a loan for as little as Ksh 1, 000 up to Ksh 3 million and have terms for both one-month and multiple-monthly installments by simply dialling *247#

One beautiful thing is that you don’t need guarantors or to fill out forms to access the loan; rather, you instantly receive funds into your account from the facility.

Additionally, this loan facility is safe and secure. However, for you to qualify, you need to meet the following requirements:

  • Have an equity account that has been operational for the last six months.
  • An active Equitel line to help you monitor your loan balance and make repayments
  • Or, Equity Mobile App

How to Access  Eazzy Loan

You can easily borrow the funds using your Equitel line by following these steps.

1. Click on the Equitel menu.
2. Choose “My Money,” then tap on Loans.
3. Next, click “Get Loan” and select the loan type.
4. The bank will show you the limit you qualify for.
5. Now, choose your preferred equity account and enter the amount you need.
6. Verify your details.
7. Finally,, type your Equitel line pin and wait for a confirmation message from the bank

On the same note, you can use the Eazzy App to obtain an Eazzy Loan. 

Here is a step-by-step guide:

1–Tap on the app, and in the top left corner, select the navigation menu by clicking the sign (=).

The (+) symbol is located in the bottom right corner.

2–Choose to ask for a loan
3–Select your preferred bank account you want the funds deposited into.
4–Choose the amount you want to borrow after you have checked your loan limit.

(You’ll see a pop-up showing the loan duration, amount due date, and repayment date.)

5–Click OK to request the loan
6–Verify your details
7–Accept the bank’s terms and conditions and click “OK.”

You will receive an SMS confirming whether your request is accepted or not.

What are the advantages of an Eazzy Loan

Eazzy Loan has two great benefits;

No need for collateral—the bank does not require you to pledge any asset as security before getting a loan from them.

Low interest rates: Easy loans have much lower interest rates than standard personal loans or credit cards, which means they are cost-effective as well as easy to repay over time.

Related: How to sign up on EazzyFX and use the platform 

How do you repay your Eazzy Loan

To repay your Eazzy loan, you can easily do it through Mpesa or via Equitel.

Here is how to go about it:
1) Visit your Mpesa app or toolkit menu.
2) Tap the pay icon.
3) Choose PayBill
4) You’ll be asked to enter the business number. Enter 247263.
5) Next, enter your Equity Bank account number that you used to receive the loan.
6) Key in the amount you want to repay.
7) Confirm your details and enter your Mpesa pin, then press OK.

You will receive an SMS confirmation from Mpesa showing the transaction you have made.

Expert Tip: A good credit score is important for any financial management. 

  • It helps you qualify for loans that would not be available otherwise.
  • It’s evidence of your financial stability and helps you meet the criteria set by the lender. 

We believe in empowering our clients with the knowledge of their financial goals and helping them achieve their dreams. This is why we recommend platforms that allow you to get convenient and secure loans easily.

We hope that this article helped you understand the importance of a good credit score, how it can help you in your financial journey, and how Eazzy Loan helps you get there.