Equity Bank Kenya offers an MPESA soft loan facility to its customers.It is sometimes known as Eazzy loan or Equity mobile loan.
This loan is available to both Equity and Equitel customers, and can be accessed through the Equity Mobile App, Equitel App, or by dialing *247#.
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| Photo: Equity Bank |
Who is eligible
To qualify for an MPESA soft loan, you must:
- Be an Equity or Equitel customer
- Have a good credit history with Equity Bank
- Have a valid M-Pesa Number
- Have a phone that is capable of using the Equity Mobile App or Equitel App
Equity Mpesa soft loan interest rates
The amount of money you can borrow will depend on your credit history and your monthly income.
The interest rate on MPESA soft loans is 10% per month, and the repayment period is up to 3 months.
How to Apply for Equity Mpesa soft loan
To apply for an MPESA soft loan, follow these steps:
- Open the Equity Mobile App or Equitel App.
- Tap on "Loans".
- Tap on "MPESA Soft Loan".
- Enter the amount of money you would like to borrow.
- Enter your M-Pesa PIN.
- Review the terms and conditions of the loan.
- Tap on "Accept" to complete your application.
Once your application is approved, the money will be credited to your M-Pesa account within minutes.
Why You should try Equity Mpesa soft loan
Here are some of the benefits of taking out an MPESA soft loan from Equity Bank:
- Easy to qualify for
- Quick and convenient application process
- Competitive interest rate
- Flexible repayment period
If you are in need of quick cash, an MPESA soft loan from Equity Bank can be a great option. Just be sure to repay the loan on time to avoid incurring any additional fees and CRB blacklisting.
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