How to Get a Loan From EasyBuy in Nigeria (2024 Update)

If you do not have a smartphone and you need to get a smartphone as soon as possible, there is a sure way for you to do that without any delay. What is the sure way, EasyBuy, It is the best solution for you. It is a smartphone loan.

What We Need to Know About Easybuy Loan

Easybuy Loan is a subsidized Palmcredit, They provide loans for Individuals and there are options for it that are very flexible and can provide you an instance of access to funds for your needs. With Easybuy, you can purchase a mobile phone with a loan and pay it back instalmentally. 

With Easybuy, no matter how costly the smartphone may be, you can purchase this phone for only 30% of the price and then pay it back instalmentally in either 3 months or 6 months.

Eligibility Criteria to Get an Easybuy Loan

If you are interested in getting a loan for a smartphone, it is pertinent to know the eligibility Requirements. Here are the requirements to get an Easybuy:

• Before you can get an Easybuy Loan, it is required that you are up to the age of 18 years.
• You will need to show proof of steady income before the loan can be issued to you as an individual
• It is expected as one of their requirement that you have a good credit history
• Any of these means of identification will be required (National Identity Card, International Passport, Voter’s Card, Driver’s License).
• Another requirement that will be needed is your Bank Verification Number (BVN)
• One more requirement that is needed is your ATM Card, it has to be a valid ATM Card.
• Lastly, your initials of the 30% deposit for the phone you are about to purchase will be needed.

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Some Documents for the Easybuy Loan

Before the loan can be approved certain documents will be required, without those documents, the loan applications will be processed for the Easyloan.

Here are the required documents:

• Means of Identification for proof (It could be your Driver’s license or Passport)
• Your proof of income will be very necessary such as your bank statement
• And the last document that will be needed will be your address verifications like your Rental Agreement or utility bills.

Easybuy Loan Applications Process

We have given the steps on how to make the application process for the Easybuy loan, follow these steps when making applications for the loan.

• First, fetch an Easybuy Agent

To apply for an Easybuy loan, you will have to locate an agent near you. Now will you locate an Agent? That is simple, Easybuy has partners and is affiliated with many phone companies In Nigeria. Meaning, with that, you can go to any phone shop near you, and ask for an Easybuy agent, and you will be directed to them.

• Provision of Informations

When you have met the Easybuy Agent, he or she will ask you questions concerning the loan, All you need to do is to make sure you give all the information needed and go with some documents to back up your information.

• Make a choice

The next thing to do after providing your information, you make your choice of phone that you will purchase. The agent will help you select the choice you have made, the price will be negotiated with you, when all of that is done, you will be directed to the easy-buy agent.

• Sign up for the Applied Easybuy

After you have made your choice, you will have to sign up for the easy loan you have applied for, the agent will be the one to make a capture of your documents provided. 

Make sure to come with all the documents listed above in this post, they will be captured by the Easybuy agent

• Payment of the 30% Initials

This is the stage where you will have to pay a 30% initial price. Depending on the phone you want to purchase, make sure you have enough money, because you are paying 30% of the phone price at instant. 

• Repayment Terms

This is the stage where you choose what payment terms you would prefer and what is convenient for you. Easybuy loan has two options, the 3-month payback and the 6-month payback.

Know that whatever method you choose, comes with an Interest rate. Make sure you get all the information you need before accepting what payment method you would make.

• Last Verification

At this point, you will be asked to give phone numbers of four(4) people who are close to you. These four people could be your friends, your coworkers, or your family members. They are the ones to vouch for you about your trustworthiness. 

They stand in as your guarantors, and if you fail to make your payment on time, they will be contacted immediately.

How to make Payment for Easybuy Loan 

When making payment for the Easybuy loan, there are steps to follow, We have started the steps in this post.

These are the steps that will guide you on how to make payment for the Easybuy Loan:

• To make a payment to Easybuy, First, you will need to download the Easybuy Mobile App, which can downloaded from the App Store. Android and iOS users can download this app
• Log in to the Easybuy App dashboard
• When you have a login to the dashboard, navigate to where you see “loan history” which is on the menu
• Then click on “repay the loan”, and key in the amount you are paying
• Options will be given, click on “repay with bank card”, then key in your card details.
• When you have done all of that, submit and then wait for the debit alert and confirmation from Easybuy through SMS.
• Screenshot your repayment process for evidence in case, if not you go explain tire no evidence.