Finance & Investment Technology & Gadgets

Eazzy Loan App: How to Get Instant Loans in Kenya

another black woman using phone

As the financial needs of Kenyans grow, mobile lending solutions like the Equity Eazzy Loan app have revolutionized how individuals access credit. With its seamless processes and diverse loan offerings, the Eazzy Loan app has positioned itself as a go-to option for those seeking instant, unsecured personal loans.

This article provides a detailed guide on how the Eazzy Loan app works, its features, interest rates, repayment options, and more. Here’s everything you need to know to make the most of this innovative lending platform.


What is the Equity Eazzy Loan App?

The Equity Eazzy Loan app is a digital platform by Equity Bank that allows users to apply for unsecured personal loans conveniently. Unlike traditional loans, Eazzy loans do not require collateral. The app uses advanced machine learning algorithms to analyze users’ financial history, assess their creditworthiness, and determine loan eligibility.

With loan amounts ranging from KSh 1,000 to KSh 3,000,000, the app caters to both small and large financial needs. Loan repayment terms range between 1 to 24 months, offering flexibility to borrowers.


Key Features of the Eazzy Loan App

  1. Loan Type: Unsecured personal loans, requiring no collateral.
  2. USSD Code: Access loans using *247# for users without smartphones or internet access.
  3. Interest Rates: Competitive rates ranging from 0.07% to 0.3% per day and 2% to 10% monthly, with a maximum effective APR of 25.5% per annum.
  4. Loan Limit: Borrow between KSh 1,000 and KSh 3,000,000 depending on your credit score and financial history.
  5. Loan Disbursement Methods: Receive funds via M-Pesa, bank transfer, Equitel Money, or ATM withdrawal.
  6. Late Payment Penalty: A one-time fee of 6% for delayed repayments.
  7. Customer Support: Contact Equity Bank via:
  8. Repayment Methods: Pay loans through the app, M-Pesa (Pay Bill number 247247), or Equitel.

How to Access Eazzy Loans

Using the Eazzy Loan App

  1. Download the App:
    • Open the Google Play Store on your smartphone.
    • Search for Equity Mobile App and download it.
  2. Register on the App:
    • Sign up with your national ID and follow the prompts to create an account.
    • Set a unique PIN for secure transactions.
  3. Apply for a Loan:
    • Log in to the app.
    • Select “Borrow” and choose “Get Loan.”
    • Enter the loan amount and repayment period.
    • Choose the preferred disbursement method (e.g., M-Pesa or bank account).
  4. Receive Funds: The approved loan amount is disbursed instantly to your selected account.

*Using USSD Code (247#)

If you don’t have access to a smartphone or internet, you can still apply for an Eazzy loan via USSD. Here’s how:

  1. Dial ** 247#* on your phone.
  2. Select Borrow from the menu.
  3. Choose “Get Loan” and select the loan type.
  4. Enter the loan amount and repayment period.
  5. Confirm details by entering your PIN.
  6. Receive your funds through the selected disbursement method.

Through Equitel Mobile

  1. Go to the Equitel menu on your phone.
  2. Select My Money > Loans > Get Loan.
  3. Choose the loan type and enter the desired amount.
  4. Confirm details and enter your PIN.
  5. Receive the loan directly to your Equitel account.

Loan Repayment Options

Repaying your Eazzy loan is straightforward. Here are the available methods:

1. Via M-Pesa Pay Bill

  • Go to the M-Pesa menu and select Lipa na M-Pesa.
  • Enter Pay Bill number 247247.
  • Input your Equity account number and repayment amount.
  • Confirm the details and enter your M-Pesa PIN to complete the transaction.

2. Through the Eazzy Loan App

  • Log in to the Equity Mobile App.
  • Select “Pay Loan” from the menu.
  • Enter the repayment amount and confirm the transaction.

Eazzy Loan Fees and Interest Rates

Borrowers incur various charges when taking an Eazzy loan, including:

  1. Interest Rates:
    • Daily: 0.07% to 0.3%.
    • Monthly: 2% to 10%.
    • Annual: 25.5% APR.
  2. Excise Duty:
    • 20% on the loan appraisal fee, charged upfront.
  3. Late Payment Fee:
    • 6% of the outstanding amount.

For example, if you borrow KSh 4,000 and repay after 60 days:

  • Interest: 10% = KSh 400.
  • Excise Tax: 20% of interest = KSh 80.
  • Total Repayment: KSh 4,480.

Eligibility Criteria

To qualify for an Eazzy loan, you must meet these requirements:

  1. Maintain an active Equity Bank account for at least six months.
  2. Use an active Equitel line or the Eazzy Loan app.
  3. Direct income (e.g., salary or business proceeds) to your Equity account.

Common Issues and Solutions

Why is My Loan Limit Zero?

  • Low transaction history.
  • Poor credit score.
  • Inactive or new Equity account (less than six months old).

What If I Am Not Eligible?

  • Improve your creditworthiness by increasing transactions in your Equity account.
  • Avoid being listed by the CRB (Credit Reference Bureau).

How to Cancel a Loan Application

  • Simply do nothing. If the application is incomplete, it will be canceled automatically.

How to Delete Your Eazzy Loan Account

  • Clear any outstanding balances.
  • Contact Equity Bank at info@equitybank.co.ke to request account deletion.

Why Choose the Eazzy Loan App?

  1. Instant Access: Receive funds within minutes.
  2. Flexible Repayment Terms: Choose between 1 to 24 months.
  3. Convenience: Apply from anywhere using your smartphone or USSD code.
  4. High Loan Limits: Borrow up to KSh 3,000,000.
  5. Transparent Fees: Clear breakdown of charges with no hidden fees.

Tips for Borrowers

  • Borrow Responsibly: Only take loans you can comfortably repay.
  • Monitor Your Credit Score: Regularly check your credit status to maintain eligibility.
  • Repay On Time: Avoid late fees and maintain a good credit history.

The Equity Eazzy Loan app is a game-changer for personal financing in Kenya. Its flexibility, transparency, and accessibility make it a preferred choice for individuals seeking quick loans. Whether you’re funding a business, paying school fees, or addressing emergencies, Eazzy loans offer a reliable solution.