Equity Boostika Loan Application Process and Requirements

Equity Boostika is a an overdraft loan facility meant to help customers complete transactions even without enough cash in their accounts. 
Equity Boostika loan banner

Such transactions may include making payments at merchants' outlets or online, payment of bills or buying airtime.

In this article I will be sharing information about Boostika application process and requirements.

Boostika Loan Features

Let's atleast have a look at some of the loan features associated with boostika equity loan; 

Loan Limits 

Loans start from ksh 100 to ksh 100,000. Each customer get a loan limit depending on their equity bank account performance. 

A customer is allowed to borrow as many times as possible within 30 days as long as he or she doesn't exceed his or her loan limit.

This means boostika loan facility allows customers to top up loans whenever necessary.

Interest Rates 

Boostika loan total interest rate is 8.5% inclusive of processing fees, the interest rate and insurance fees 

This means anyone who takes a boostika loan of ksh 100,000 will be required to pay an interest of ksh 8,500 in 30 days. 

This customer will therefore be required to pay a total of ksh 108,500. 

Payment Duration 

Boostika loan repayment duration is 30 days. It's a short term loan facility,but a customer can choose to pay early. 

Boostika Loan Requirements

Who is eligible to apply for equity boostika loan? Before I take you through the application process it's good to know first if one qualifies for boostika or not. Here are the requirements; 
  • Must be Equity Bank Customer
  • Must have an active current account with Equity Bank
  • Must be using either mobile banking,Eazzy USSD Code *247#, Equitel or mobile app.

Boostika Loan Application Process

Loan application can be done in three different ways which include;
  1. Via USSD code *247#
  2. Via Equity Bank Mobile App 
  3. Via Equitel

 USSD code *247# 

You can use this Equity Bank USSD Code*247# to pay for bills, merchants or send money using boostika loan as follows below 👇

To pay bill or merchant;
  • Dial *247#
  • Select paybill
  • Select your account to pay from
  • Select business number
  • Enter account number 
  • Enter account
  • Enter PIN
  • Your Boostika limit will display
  • Confirm any additional money required
  • Accept and pay
To send money;
  • Dial *247# 
  • Select Send money
  • Select account to pay from
  • Select account to send to 
  • Enter account number 
  • Enter amount
  • Enter PIN
  • Boostika limit will display
  • Confirm any additional money requirements
  • Accept and complete the transaction


Equity mobile app

When using equity mobile app,follow these steps to use boostika loan as shown below 👇

Pay bill or merchants;
  • Login to Equity Mobile App 
  • Select paybill
  • Select your account to pay from
  • Select business number
  • Enter account number 
  • Enter account
  • Enter PIN
  • Your Boostika limit will display
  • Confirm any additional money required
  • Accept and complete the transaction 
To send money; 
  • Login to Equity Mobile App 
  • Select Send money
  • Select account to pay from
  • Select account to send to 
  • Enter account number 
  • Enter amount
  • Enter PIN
  • Boostika limit will display
  • Confirm any additional money requirements
  • Accept and complete the transaction

Equitel STK

Go to your Equitel STK menu to use boostika as shown below 👇
 
To pay bills or merchants;
  • Open Equitel STK menu 
  • Select paybill
  • Select your account to pay from
  • Select business number
  • Enter account number 
  • Enter account
  • Enter PIN
  • Your Boostika limit will display
  • Confirm any additional money required
  • Accept and complete the transaction

To send money;
  • Open Equitel STK menu 
  • Select Send money
  • Select account to pay from
  • Select account to send to 
  • Enter account number 
  • Enter amount
  • Enter PIN
  • Boostika limit will display
  • Confirm any additional money requirements
  • Accept and complete the transaction

Conclusion

Equity Boostika loan is a legit and recommendable overdraft facility with the simplest requirements an application process.

Just like any other loans, always take what you can pay back to avoid damaging your credit score.


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