How to Get a Loan From EasyBuy. This article provides a comprehensive guide on obtaining a loan from EasyBuy, covering eligibility criteria, required documents, and repayment options.
EasyBuy is a Nigerian mobile loan app offering short-term loans on Android and iOS devices. To qualify, you must be a Nigerian citizen with a valid ID card, bank account, and mobile phone. Loan amounts range from N10,000 to N50,000, with monthly interest rates of 6% to 9% and repayment periods of 3 to 6 months.
How to Get a Loan from EasyBuy
To apply for an EasyBuy loan, download the app, create an account, and provide basic information like name, email, phone number, and national ID number. Upload your ID and bank statement. Easybuy will review your application and approve or deny the loan within 24 hours, with the money deposited into your account.
EasyBuy loans offer various benefits like unexpected expenses, debt consolidation, and large purchases, but they are high-interest loans, so only borrow from EasyBuy if you can afford to repay the loan on time.
What is the interest Rate for EasyBuy Phones?
The interest rate for EasyBuy phones varies based on loan tenure, and the standard repayment plans for the loans include: tenors for 90 days, 180 days, and 360 days offering a flat monthly interest rate of 6–17%, 8–9%, and 10–11%, respectively.
How Does EasyBuy Loan Work And How Can I Use It?
Here is a practical example illustrating how EasyBuy works and how it can be used.
EasyBuy offers loan services for those unable to afford mobile devices. To apply, applicants must submit the necessary documents, deposit 30% of the N50,000, and have N15,000 with them.
EasyBuy completes the payment for 70%, which can be paid back in installments, typically between 3 months and 6 months. Note that EasyBuy loans require credit approval, personal information, and employment history to be approved.
EasyBuy Loan App Download
The app is available to download on the Google Play Store, and the app allows users to manage their loan history, including requesting and repaying loans, with a user-friendly interface and easy navigation.
The app has accumulated over 1,000,000 downloads, over 47,000 reviews, and 4.0 ratings on the Google Play Store, boasting a small size of 6.4 MB.
How To Create An Account With EasyBuy?
Let’s assume you’ve downloaded the mobile loan app. Below are the simple steps to creating an account:
- First, you need to launch the app.
- Once it opens, click on “Sign Up.”
- The empty spaces will be provided; carefully enter the required information in those spaces.
- Ensure that you create a strong password.
- Enter a valid phone number to verify your account, and the code will be sent to your phone via SMS.
- Ensure that you accept the terms and conditions.
- You can now submit
- Your EasyLoan home page will appear.
Documents Required For EasyBuy Loan
When applying for an EasyBuy loan, you will need to provide the following documents:
- Basic information about yourself
- Functioning email address
- Phone number,
- Legal or valid means of identification such as a national ID number, driver’s license, international passport, etc.
- Bank statement
How to Get a Smartphone Loan From EasyBuy
To utilize the Easybuy loan service for purchasing your mobile appliance, follow the following procedure:
1. Locate An Easybuy Agent
To purchase a smartphone on EasyBuy, locate an agent near you. EasyBuy partners with most Nigerian phone companies. Visit any phone shop and ask for the Easybuy agent.
2. Provide Your Information
Provide all necessary information to the Easybuy agent to prove loan eligibility. Your answers will be recorded.
3. Select Your Desired Mobile Phone
After submitting your information, choose your preferred mobile phone and receive assistance from a phone agent in making a selection and negotiating the price. Once finished, you will be directed back to the Easybuy agent.
4. Sign up for your Easybuy loan
To apply for an Easybuy loan, select your mobile phone and follow the agent’s guidance to complete the application process.
Note that you will need to provide all requirements and create an Easyloan account, including a recent passport photograph.
5. Make Your 30% Initial Payment
After passing the above stage, the initial deposit of 30% for a phone will be paid to the agent.
6. Choose a Convenient Repayment Term
During the application stage for an Easybuy loan, you can choose either a 3 or 6-month payback option. It’s important to consult with the agent about the repayment term and interest rate before making a selection.
7. Final verification
At this stage, you must provide four trusted contacts with your phone number. They’ll be contacted if you fail to repay, so ensure you fulfill your obligation to avoid embarrassment.
How much loan can you get from EasyBuy?
Easybuy allows loans between ₦10,000 and ₦50,000, as long as requirements are met, and loans higher than this amount cannot be obtained.
How To Repay EasyBuy Loan
Repaying your Easybuy loan involves various methods; any method you use gives you the same outcome.
Through The EasyBuy Mobile App
To pay back your Easybuy loan using the Easybuy Mobile App, kindly follow the steps below:
- Check out how to download the App and how to create an account.
- After launching your app,
- Login to your Easybuy account.
- To access your loan history, simply navigate to the “loan history” option on the menu.
- Click on “Repay the Loan” and enter the amount you wish to pay.
- Click on “Repay with Bank Card, and you’ll be directed to where you will input your debit card details.
- Fill out the form and submit.
- You will be debited.
- Ensure you screenshot your repayment process for verification.
Through The Mobile Transfer
To pay Easybuy through mobile transfer, you can request your account number via email or phone.
Through Bank Deposit
To repay an Easybuy loan, deposit the money into their bank account by visiting a nearby bank and requesting a deposit slip, requiring the Easybuy account number and contact information.
EasyBuy Customer Care and Email Address
Phone number: 018888188
Operation Period: (9 am to 5:30 pm, Monday to Friday)
Email Address: email@example.com
Facebook Page: https://www.facebook.com/easybuy.loans.
EasyBuy ensures stress-free mobile device purchases with verified applications to prevent fraud. For more information, follow us on Kindi Recruit.
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