Requirements for accessing Equitel Eazzy Loan
Applying for the Eazzy Loan
Please Note
When you choose the ‘Get loan’ option, you will notice that there are two choices available i.e. Eazzy Loan and Eazzy Plus Loan. The two loans are different in the following ways:
Eazzy Loan offers loan amounts between Ksh. 100 and Ksh. 200,000, while Eazzy Plus Loan has the maximum limit of Ksh. 3,000,000. Eazzy Loan has a shorter payment period at 30 days, while the Eazzy Plus Loan has an extension of up to 12 months.
Eazzy Loan Interest Rates
Eazzy Loan interest rates range from 2% to 10% per month. The standard interest rate Equity charges is 1% of the total loan amount. This is the appraisal fee. However, the government charges an additional 10% of this appraisal fee as tax. Therefore, if you borrow Ksh. 1,000, Equity will charge you 1% interest i.e (Ksh 10), and the government will charge 10% of the appraisal fee i.e (Ksh 1). Thus, your total repayment amount will be Ksh. 1,000 + Ksh 10 + Ksh 1 = Ksh. 1,011.
