How to Get a Loan on Equitel Line

How to Get a Loan on Equitel Line

If you’re in need of financial assistance, getting a loan on your Equitel line can be a convenient and straightforward process. Equitel, a mobile banking platform by Equity Bank, offers the Eazzy loan feature that allows you to access funds quickly and easily. In this article, we’ll walk you through the steps to get a loan on your Equitel line, along with some additional details and tips to maximize your loan limit. So, let’s dive in and explore how you can secure a loan on your Equitel line!

Step 1: Check Your Eligibility

Before you start the loan application process, it’s essential to ensure that you meet the eligibility criteria. To be eligible for an Eazzy loan on your Equitel line, you must have an active Equity Bank account or Equitel line for at least 6 months. This requirement helps establish your relationship with the bank and demonstrates your financial stability.

Step 2: Choose Your Loan Amount

Equitel offers loan amounts of up to Ksh3 million through the Eazzy loan facility. Determine the specific amount you need and consider your repayment capacity before deciding on the loan amount. It’s crucial to borrow responsibly and choose an amount that you can comfortably repay within the agreed-upon terms.

Step 3: Apply for the Loan

Once you’ve established your eligibility and decided on the loan amount, it’s time to apply for the loan. Equitel provides multiple channels for loan applications, ensuring convenience and accessibility for its customers. You can apply for the loan through the Equitel menu on your mobile phone, the EazzyApp, or by dialing *247#.

Step 4: Approve the Loan

After you’ve submitted your loan application, it goes through an approval process. If your loan is approved, you will receive a notification on your phone indicating that your loan has been successfully approved. This notification serves as confirmation that the funds are ready to be disbursed to your Equitel line.

Step 5: Receive the Loan

Once your loan is approved, the funds will be credited to your Equitel line immediately. You can access the funds and use them for your intended purposes, whether it’s covering an unexpected expense, investing in your business, or fulfilling any other financial needs.

Additional Details about Getting a Loan on Equitel Line

To ensure a clear understanding of the loan process, here are some additional details you should know:

  • Interest Rate: The interest rate for Eazzy loans on your Equitel line is 14% per annum. This competitive rate ensures that you can access funds at a reasonable cost.
  • Loan Appraisal Fee: There is a loan appraisal fee of 5% of the loan amount, which is payable upfront. This fee covers the assessment and processing of your loan application.
  • Repayment Options: Equitel provides flexibility in loan repayment. You can choose to repay the loan in a lump sum or in installments, depending on your preferences and financial circumstances.
  • Repayment Period: The repayment period for Eazzy loans on your Equitel line extends up to 12 months. This duration gives you ample time to repay the loan comfortably while managing your other financial commitments.

Tips to Increase Your Equitel Loan Limit

If you’re looking to increase your Equitel loan limit for future borrowing needs, consider the following tips:

  • Increase Your Banking Activity: Regularly use your Equity Bank account and perform transactions to demonstrate your banking activity. This active engagement with the bank can positively influence your loan limit.
  • Improve Your Credit History: Maintain a good credit history by repaying your loans on time and avoiding defaults. A positive credit history indicates your creditworthiness and can lead to an increased loan limit.
  • Reduce Outstanding Loan Balances: If you have existing loans with other lenders, try to reduce the outstanding balances. Lowering your debts demonstrates responsible financial management and may contribute to an enhanced loan limit on your Equitel line.
  • Channel Incomes to Equity Bank Account: Consider directing all your incomes, such as salaries or business revenues, into a single Equity Bank account. Consolidating your funds in one account showcases your financial stability and commitment to the bank.

By following these tips and maintaining a healthy financial relationship with Equity Bank, you can increase your Equitel loan limit over time.


In conclusion, getting a loan on your Equitel line is a convenient and accessible process through the Eazzy loan feature. By ensuring your eligibility, selecting an appropriate loan amount, and following the application steps, you can access the funds you need with ease. Remember to consider the additional details about interest rates, loan appraisal fees, repayment options, and repayment periods to make informed borrowing decisions.

And if you aim to enhance your loan limit, implement the provided tips to increase your banking activity, improve your credit history, reduce outstanding loan balances, and channel your incomes into a single Equity Bank account. Now that you’re equipped with the necessary information, you’re ready to explore the possibilities and secure a loan on your Equitel line. Happy borrowing!



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