Equity Eazzy Loan is a innovative digital loan product by Equity Bank Kenya that revolutionizes the borrowing process by eliminating the need for guarantors, collateral, or lengthy paperwork. Accessible via both Equitel’s USSD services and the dedicated Eazzy Banking app, this product caters to both salaried workers and small business owners. With loan amounts ranging from KSh 100 up to KSh 3,000,000, the platform is designed for flexibility, enabling borrowers to secure emergency cash or plan for larger investments in a matter of minutes all from the comfort of their mobile phones.
Key Features of Equity Eazzy Loan
- Once your credit is approved, funds are transferred directly to your bank or mobile wallet account, often within minutes.
- The digital process leverages your existing banking transactions and account activity to assess creditworthiness.
- Choose repayment tenors that range from one month up to 24 months depending on your cash flow needs.
- All interest rates, processing fees, and other charges are clearly displayed at the point of application to eliminate surprises later.
- Easy navigation through the Equity Mobile App or Equitel menu ensures that even non‑tech savvy users can apply with ease.
Eligibility Criteria
To be eligible for Equity Eazzy Loan, you should:
- Hold an active Equity Bank account for at least six months.
- Possess an Equitel line or be registered on the Eazzy Banking app.
- Have a steady income source channeled through the account (e.g., salary, business income).
- Maintain a positive credit history as per Equity Bank’s internal records.
How to Register and Apply
- Dial the designated USSD code (commonly *247#) on your Equitel line, or log in via the Eazzy Banking app.
- Follow the on‑screen prompts to link your Equity account details and verify your identity.
- Select “Get Loan” and input the desired loan amount.
- Equity’s advanced analytics assess your financial history and provide immediate feedback.
- Once approved, the funds are deposited directly into your account, offering you instant liquidity.
How to Repay Your Eazzy Loan
Equity Bank has built multiple repayment channels into the process. You can repay via:
- Directly from the Eazzy Banking app.
- Use the designated code for repayment.
- If your funds are in your mobile wallet, you can use the “Lipa na M‑Pesa” service to clear your dues.
Additional Benefits and Tips
- Timely repayments can lead to enhanced future credit limits.
- Equity Bank offers dedicated customer service channels via phone, email, or the branch network to assist with any queries.
- Use the app’s financial management tools to budget better and monitor your repayment schedule.