At some point, individuals and businesses need access to cash to meet personal obligations, bridge short-term financial gaps or fund business activities.
Traditionally, securing credit often meant visiting a bank branch, completing lengthy forms, providing collateral or finding guarantors before a loan could be approved.
The growth of digital banking, however, has significantly changed how customers access financing.
Banks and other financial institutions have increasingly introduced products that allow customers to borrow money remotely, reducing paperwork and eliminating the need for physical visits to branches.
For Equity Bank customers, one such product is the Eazzy Loan, a digital credit facility designed to provide quick access to funds for personal and business needs.
The facility allows eligible customers to borrow amounts ranging from Sh100 to Sh3 million, without the need for guarantors or physical loan application forms. Customers can apply from wherever they are using their mobile phones or computers.
Applications can be made by dialling *247#, through the Equity Mobile App for Android and iOS devices, the Equitel menu, or Equity Online.
How to access Eazzy Loan
Equitel customers can apply through the following steps:
- Go to the Equitel menu.
- Select My Money.
- Select Loans.
- Select Get Loan.
- Choose the loan type.
- Select the account.
- Enter the amount required.
- Confirm the details.
- Enter your PIN.
Customers using the Equity Mobile App can access the facility by linking their Equity account, where necessary, then selecting Borrow, followed by Get a loan. Select the loan type and enter the amount you wish to borrow.
To qualify, customers must have maintained an active Equity Bank account for at least six months and have an active Equitel line or Eazzy App.
The bank also considers the flow of income through the customer’s account, including salary, farming proceeds and business income, when determining the customer’s credit limit.
Multiple options for loan repayment
Equity has also provided several channels through which customers can repay their loans, allowing borrowers to make either partial or full payments without having to visit a branch.
Through the Equitel SIM Toolkit, access the My Money menu, select Eazzy Loan and choose whether to make a partial or full repayment. Select the relevant account and loan, then confirm the transaction using their PIN.
Repayments can also be completed through *247# by selecting Borrow, followed by Pay Loan. Choose the loan, specify whether the payment is partial or full, enter the amount where applicable and select the account from which the payment will be made.
The Equity Mobile App and Equity Online provide another repayment option. Customers can navigate to Borrow, select Pay loan, choose the account and loan, enter the repayment amount and confirm the transaction.
The bank also offers repayment support through EVA, the Equity Virtual Assistant, which is available on platforms including WhatsApp, Facebook Messenger and Telegram.
Customers can initiate the conversation with EVA and proceed to the borrowing section to access the relevant loan services.
Why timely repayment matters
Equity Bank highly encourages borrowers to make timely loan repayments. According to the lender, timely repayment demonstrates financial discipline and can contribute to a stronger credit history.
With a positive credit profile, a customer may improve their ability to access credit in the future and potentially qualify for higher limits or more favourable terms, subject to the lender’s assessment.
Prompt repayment can also help borrowers avoid additional interest and fees associated with overdue facilities, making it easier to manage their finances and stay on track with their financial plans.
To get started, download the Equity Mobile App via
Play Store:http://bit.ly/EquitymobileAndroid…
App Store: http://bit.ly/EquityMobileIOS
or log on to https://equityonline.equitygroupholdings.com
Also Read: Equity leaders program sends African scholars to global universities
