In Kenya, accessing a quick loan has become easier than ever, thanks to financial innovations that leverage mobile technology. One such innovation is the Eazzy Loan, offered by Equity Bank in partnership with Safaricom’s M-Pesa. This service allows you to get a soft loan directly to your M-Pesa account, which you can use for various financial needs. In this guide, we’ll walk you through the steps to apply for an Eazzy Loan.
Step 1: Ensure Eligibility
Before applying for an Eazzy Loan, ensure that you meet the eligibility criteria, which typically include the following:
- You must be a registered Safaricom M-Pesa user.
- You should have an active Equity Bank account linked to your M-Pesa.
- Your M-Pesa account should have a good transaction history.
- You should have a valid Kenyan national identification document, such as an ID card or passport.
Step 2: Register for Eazzy Loan
If you meet the eligibility criteria, you can register for Eazzy Loan using the following steps:
- Dial the USSD Code: On your mobile phone, dial *555# and press the call button.
- Select “Eazzy Loan”: From the menu options displayed, select “Eazzy Loan.”
- Accept Terms and Conditions: Carefully read and accept the terms and conditions of the loan service.
- Create a PIN: You will be prompted to create a confidential PIN for accessing your Eazzy Loan account. Choose a PIN that is easy for you to remember but difficult for others to guess.
- Link Your M-Pesa Account: Follow the on-screen prompts to link your M-Pesa account to your Eazzy Loan account.
Step 3: Apply for an Eazzy Loan
Once you’ve successfully registered for Eazzy Loan, you can apply for a loan at any time by following these steps:
- Dial *555#: On your mobile phone, dial *555# and press the call button.
- Select “Eazzy Loan” Option: Choose the “Eazzy Loan” option from the menu.
- Select “Request Loan”: From the Eazzy Loan menu, select “Request Loan.”
- Choose Loan Amount: Specify the loan amount you require. Eazzy Loan offers various loan limits based on your eligibility and transaction history.
- Confirm Loan Request: Carefully review the loan details, including the loan amount and applicable fees. If everything is correct, confirm your loan request.
- Receive Loan: If your loan application is approved, the loan amount will be sent directly to your M-Pesa account. You will receive a notification confirming the disbursement.
Step 4: Repay Your Eazzy Loan
Eazzy Loan comes with a repayment period, and you can repay your loan using the following methods:
- M-Pesa Paybill: Use the Equity Bank M-Pesa paybill number provided to repay your loan directly from your M-Pesa account.
- Bank Deposit: Visit an Equity Bank branch and deposit the loan amount into your Eazzy Loan account.
- Eazzy Banking App: If you have the Eazzy Banking app, you can use it to repay your loan conveniently.
- Equity ATMs: Some Equity Bank ATMs allow loan repayments.
It’s important to repay your Eazzy Loan on time to maintain a good credit history and improve your chances of accessing higher loan limits in the future.
In conclusion, the Eazzy Loan, provided by Equity Bank in partnership with Safaricom’s M-Pesa, offers a convenient way to access quick funds whenever you need them. By following these steps, you can easily apply for an Eazzy Loan and take control of your financial needs without the hassle of traditional loan application processes. Remember to borrow responsibly and repay your loans promptly to maintain a positive credit profile.