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Equity Bank Kenya Limited Eazzy Plus Personal Loan Details

Rates available from as of 1st April 2021
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Equity Bank Kenya Limited

Eazzy Loan Plus
Amount
KES
1000
-
3000000
Duration
1
months
-
1
months
Total Cost
19
%
-
21
%
annualised, year one
Typically approved within
1
days
visit website

* Processing Fees and Excise duty are only applied to year one. For loans longer than one year, your annual cost from year two onwards will be between 11.0% - 15%.


Loan Fees:

  • Interest Minimum: 11%
  • Interest Maximum: 13%
  • Processing fee: 5%
  • Insurance Fee: 1-2%
  • Withdrawal Fee: None
  • Late Fees: 5% Flat
  • Other Fees: 10% Excise Duty on Processing fee

Disbursement Details:

  • Institution Type: Commercial bank
  • Application Method: Digital
  • Disbursement Method: Bank account

Repayment Details:

  • Repayment Frequency: Monthly
  • Early Repayment: Allowed
  • Repayment Method: Auto-deductions

Eligibility Requirement:

  • Smartphone: Not required
  • CRB: Must be in good standing
  • Income: No minimum
  • Employment: Not required
  • Network: Equitel
  • History: Active account for 6 Months
  • Documents: National ID
  • T&C Link

 

Money254 Review

Pros:

  • Convenient application via App or USSD
  • Formal employment not required
  • High maximum loan limit of Up-to 3 million
     

Cons:

  • Account must be active for at least 6 months
  • Must use Equitel network
  • Relatively high Late charges (5%)

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