When times are hard and we don’t want to lose out entirely, we can seek for loans to assist our businesses, so that they can keep moving on. To do this you have to search for institutions that can help you with the needed funds.
Sometimes it can be very difficult to meet the requirements to get a loan from both the big and small financial institutions around us, and that can hinder some people who really need the loan from suffering loss in their businesses.
But in this post, we are going to give you simple steps on how you can get a loan from EasyBuy, so if you have been thinking of the stress involved in getting a loan from easyBuy, this article will put you through the easiest way to do so, all you need to do, is to follow us carefully and read the article to the end.
About EasyBuy
In Nigeria today, the rate at which things and the prices of items are skyrocketing is very alarming, and most people do not have the funds to purchase some of the things that they need this will result in applying for loans, and this is how you think of EasyBuy loan.
EasyBuy is one of the financial institutions that offer loans to people. It has become very popular among Nigerians whenever it comes to buying phones and paying bit by bit.
Eligibility Criteria for EasyBuy Loan
What are the eligibility requirements for applying for an EasyBuy loan? They are:
- Minimum age of 18 years
- Proof of stable income
- Good credit history
- Valid identification documents
- Examples of accepted ID are a Driver’s license, International Passport, Voter’s card, and National Identity Card)
- Bank Verification Number (BVN)
- ATM card (A valid one)
- You need to deposit at least 30% of the cost of the phone
How to Get a Loan From EasyBuy in 2024
There are certain things you need to do to successfully get your loan from EasyBuy and they include the following;
- You have to get in touch with an EasyBuy agent
- Provide all the vital information and requirements needed for the loan
- If it is a mobile phone you want to buy, select the type of phone you want.
- Then sign up for the loan
- 30% deposit of the original cost of the phone must be made
- Provide a convenient repayment term, which could be within 3 months or 6 months
- Final verification, this involves you providing numbers of people close to you, which can be friends or family.
How to Create a Loan Account with EasyBuy
To apply for the EasyBuy loan, you have to first create an account with EasyBuy, and this is how to go about it.
- Download the EasdyBuy loan App
- Launch the app, and sign up with your email, password, and phone number
- Enter the verification code sent to you
- Then submit the form, and you will be directed to the app
Document Required for EasyBuy Loans
What are the documents that you need to have before the EasyBuy loan will be granted to you? Three important things are listed, look at them here:
- Identification proof, that is ID card
- Proof of income, that sources of your income
- Address verification
- Automatic Teller Machine (ATM)
- Bank verification number (BVN)
How to Pay Back Your EasyBuy Loan
The following ways will help you repay your EasyBuy loan:
- Using the EasyBuy app
- Using a mobile app transfer
- Visiting a bank branch and paying, if it is cash
- Through RAVE by Flutterwave
Repaying Easybuy Loan via App
If you don’t want to pay your loan in cash you can also use the EasyBuy app, and to use App, this is how you can do it.
- Download the EasyBuy App
- Open the Easybuy application
- Log into the app
- Open “loan history”
- Click on “Pay now“
- Tap “Repay with Bank card”
- Input your card details
- Enter the amount you want to pay
- And send
Read Also:
How Much can Loan from EasyBuy?
In as much as you can meet the loan requirements and can pay you can loan much money form the institution. Now, this how much you can loan. Depending on the conditions attached to the loan, customers can loan from N10,000 (Ten Thousand Naira) to the maximum amount of N50,000. For now, that is the maximum amount that EasyBuy can give to its customers. So if you want to get a loan from the institution, it should be between the range of N10,000 (Ten Thousand) to N50,000 (Fifty Thousand Naira)
Pros and Cons of EasyBuy Loans
The following are the advantages and disadvantages of EasyBuy loans.
Pros:
- Easy to qualify for
- Convenient way to purchase a phone
- No collateral required
- Competitive interest rates
Cons:
- High-interest rates
- Short repayment terms
- Late payments may attract extra charges
- Not everyone may have the opportunity to access the loan
Conclusion
EasyBuy has been of great help to many Nigerians who run to them when in need of urgent financial help. However, if you have need to get a loan from EasyBuy, know that you can only get a loan between the range of N10,000 (Ten Thousand) to N50,000 (Fifty Thousand Naira).