Easybuy Loan Application, Repayment, App Download

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What’s Easybuy Loan and how do you get it. Mobile phones have become an essential part of our lives. However, the rising costs of these devices often leave us unable to afford the latest models.

Easybuy offers a convenient solution for those who wish to purchase mobile devices through their “Buy Now and Pay Later” service.

With EasyBuy loan, you can now purchase any mobile phone of your choice and pay for it at your convenience. Say goodbye to financial limitations and hello to your dream mobile device.

How does Easybuy loan work?

Easybuy provides loan services specifically tailored for individuals who lack the funds to purchase mobile devices.

To access Easybuy’s services, you can download the Easybuy loan app from the Google Play Store. The app offers a user-friendly interface and allows you to manage your loan history, request loans, and make repayments with ease.

With over 1,500,000 downloads, 50,000 reviews, and a rating of 4.2 on the Google Play Store, the Easybuy loan app has proven to be a reliable tool for users. Additionally, it has a small file size of just 6.4 MB, ensuring a quick and hassle-free download.

How to create an account on easybuy

To begin your Easybuy loan, you’ll need to create an account with them. After downloading the Easybuy loan app, follow these simple steps:

1. Launch the app and click on “sign up.”
2. Enter the required details, including your phone number, email address, and a strong password.
3. Verify your phone number by entering the verification code sent to you.
4. Accept the terms and conditions, then submit your registration.
5. You will be directed to the app’s home page, where you can start exploring its features.

EasyBuy Loan Requirements

Before you can obtain a mobile device loan from Easybuy, certain requirements must be met. These include:

1. Verified Means of Identification: Provide a valid means of identification such as a driver’s license, international passport, voter’s card, or National ID card.
2. Bank Verification Number (BVN): Your BVN is necessary for tracking and confirming your banking history.
3. Automatic Teller Machine (ATM) Card: Have an active ATM card available.
4. Good Source of Income: Demonstrate a reliable and steady source of income to assure Easybuy of your ability to repay the loan.
5. 30% Deposit: Ensure you have a 30% deposit of the total amount of the mobile phone you wish to purchase, as Easybuy will cover the remaining 70%.

How to get easybuy loan

1. Locate an Easybuy agent at a mobile phone store affiliated with Easybuy. You can identify them by their blue shirts featuring the Easybuy logo.

2. The agent will guide you through the requirements and ask relevant questions before proceeding with your purchase.

3. After discussing with the Easybuy agent, select your desired phone once the agent has consulted with the mobile shop manager. Easybuy and the mobile shop work in tandem to fulfill your purchase.

4. Register through the Easybuy loan app with the assistance of the agent, who will walk you through the application process. If you’ve done this before now, you can skip this step

5. Make a payment of the 30% deposit. Referring back to our previous example, if your phone is worth N50,000, you would pay N15,000, while Easybuy covers the remaining amount.

6. Set up your repayment plan in the Easybuy loan app. Choose between the 3-month or 6-month repayment plan, each with its respective interest rate.

7. Provide details of four individuals who can act as guarantors. These individuals should be well acquainted with you and willing to vouch for your reliability. It is advisable to inform them beforehand to avoid catching them off guard.

When using Easybuy, you can borrow an amount up to 70% of the mobile phone’s value, with a maximum loan limit of N50,000. Whether you require a small loan of N10,000 or the full N50,000, Easybuy has you covered.

How to Repay easybuy loan

Repaying your Easybuy loan is straightforward, and you have several options available:

1. Mobile Transfer: Contact Easybuy via email to request their bank account details, allowing you to make repayments through mobile transfer.
2. Cash Payment: Visit the nearest bank to pay in cash, ensuring you have Easybuy’s bank account details.
3. Easybuy Loan App: you cab pay through the app

Log in, navigate to your loan history, select “repay the loan,” enter the desired payment amount and method, and submit the request. Always remember to take screenshots of your payment for reference.

EasyBuy loan interest rates

Easybuy loan interest rates vary depending on the chosen repayment plan. For the 3-month plan, the interest rate is 9% per month, while the 6-month plan incurs a 6% interest rate per month. Referring back to our example:

For the 3-month repayment plan:
Phone worth: N50,000
30% deposit: N15,000
Interest rate per month: N3,000
Interest rate in 3 months: N13,500
Total amount to be paid: N13,500 + N35,000 = N48,500.

For the 6-month repayment plan:
Phone worth: N50,000
30% deposit: N15,000
Interest rate per month: N3,000
Interest rate in 6 months: N18,000
Total amount to be paid: N18,000 + N35,000 = N53,000.

It’s essential to repay your loan on time to avoid additional charges or potential embarrassment when Easybuy contacts the four individuals you provided as guarantors.

Easybuy’s head office is located at Number 9, Ogunnusi Road, Ogba, Ikeja in Lagos, Nigeria. For further inquiries or assistance, you can contact Easybuy here

Conclusion

In conclusion, Easybuy is a good choice if you need a new phone buy don’t have enough money to pay now. However, remember you should only make use of this service if you have a means to repay.

All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

13 Comments

  1. I paid 8,950 to 123*1519 zenith bank on 3/8/2023.
    I have been debited from my keystone bank, but Easybuy still call me for the money.
    The transaction code 000002230803224523115754543881.
    My name is emeka

    1. I paid #16,547.10 as instalmental repayments on 06/10/23 and 06/11/23, and awaiting another instalmental repayment plan to be due on 06/12/23. But surprisingly, I have been receiving all sorts of insults from easybuy.loan agents that I am yet to pay the instalmental repayment. I made payment via transfer through one of my guarantors to Wema bank account number with account name MONNIFY NEWEDGE-ISR. Pls cross check this facts and if it’s true, call your agents to order to avoid legal actions. looking forward for your prompt response. Israel John Esq. send to me your easybuy .loan bank account numbers for further payments.

  2. I paid 15,345.78 on the 26/08/23, and it wasn’t deducted, it’s increasing and annoying,they are debiting me

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