In this comprehensive guide, we delve into the seamless application process and requirements for Equity Boostika, the go-to overdraft loan facility providing customers with the flexibility to complete transactions, whether at merchants’ outlets or online, even when their account balances fall short.
Boostika Loan Features:
Loan Limits: Ranging from Ksh 100 to Ksh 100,000, customers receive personalized loan limits based on their Equity Bank account performance. Borrow multiple times within 30 days, ensuring transactions are smooth without exceeding the approved limit.
Interest Rates: With a total interest rate of 8.5%, inclusive of processing fees, interest, and insurance fees, a Boostika loan of Ksh 100,000 incurs an interest charge of Ksh 8,500 over 30 days, resulting in a total repayment of Ksh 108,500.
Payment Duration: Boostika’s short-term loan facility comes with a 30-day repayment duration, providing customers the option to settle their loans early if they wish.
Boostika Loan Requirements:
To be eligible for a Boostika loan, applicants must:
- Be an Equity Bank Customer
- Maintain an active current account with Equity Bank
- Utilize mobile banking services such as Eazzy USSD Code (*247#), Equitel, or the mobile app.
Boostika Loan Application Process:
Choose from three convenient application methods:
- *Via USSD Code *247#:* Pay bills or merchants by dialing *247#, selecting paybill, and following the prompts. To send money, use the same code, select send money, and complete the transaction securely.
- Via Equity Bank Mobile App: Access Boostika through the Equity Mobile App by selecting paybill or send money, entering the necessary details, and confirming the transaction with ease.
- Via Equitel STK: Open the Equitel STK menu to pay bills or merchants by selecting paybill or send money. Follow the prompts, enter the required details, and complete the transaction effortlessly.
Conclusion:
Equity Boostika is a reputable overdraft facility with straightforward requirements and an easy application process. However, it’s crucial to borrow responsibly, ensuring repayment aligns with your financial capabilities to maintain a healthy credit score.
Unlock financial flexibility with Equity Boostika – your key to hassle-free overdraft solutions!
