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Easybuy Loan App: How To Buy Phone And Pay Later

Do you want to buy a device but don't have the amount, it is cool to try the Easybuy loan app that allows you to buy now and pay later with ease. Read along...

by Eniola Samuel
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Easybuy loan app

When someone desires to buy a gadget (phone) but doesn’t have the amount required to buy it, this is where the Easybuy loan app comes in to help you get your dream device.

Easybuy is a child company under Palmcredit, which is a loan company that offers loan services to its customers.

With Easybuy you can buy smartphones by paying only 30% of the whole product price, this allows you to pay the remaining 70% over a period of time (3 months or 6 months).

Without wasting much of our time, let’s go directly to how we can start by looking at Easybuy loan requirements.

Easybuy loan requirements

To be able to apply for mobile financing loan with Easybuy, you need to meet the requirements below:

  • Must be currently employed or have a stable source of income
  • A bank Verification Number (BVN) is required
  • Must possess a valid Identity Card such as a National ID card, Voter’s card, Int’l passport, or Driver’s license.
  • Must have a valid ATM card (for repayment)
  • Have in hand or bank your 30% cash for the initial payment of mobile

When you meet the above requirements, the next step to take is to apply for a mobile loan.

Read Also: How To Apply For OPay POS Machine With Easy Steps

How to apply for a Mobile Phone loan with Easybuy

To get a smartphone loan with Easybuy, you need to follow the below steps:

1. Locate an Easybuy Agent

Before you decide to get a smartphone, you must first locate an Easybuy agent. They have lots of partnerships and affiliations with different phone retailers in Nigeria.

To locate one, you will be able to find a banner of Easybuy outside the agent location, the staffs wear official Easybuy uniforms (blue T-shirts), this makes it easier for identification.

2. Receive requirements and provide details

When you meet an Easybuy agent, you will be provided with the requirements. When you meet the requirements, you will be given a guide.

You will be asked some questions and your answers will be noted down for future purposes.

3. Choose your desired Mobile phone

Whichever phone store you go to, you will have Easybuy customer care attend to you on your mobile selection. You choose the phone, the price is discussed, and you get the percentage of cash to pay.

4. Create an account with the Easybuy loan app

After choosing your mobile, all you need to do is sign up on the Easybuy platform (app). The agents will use your previously filled details for the sign-up process.

You will have your photo taken during the process, you will also be able to speak with another agent from the Easybuy head office to verify.

5. Pay the 30% initial payment

As mentioned earlier in the requirement section, you will be required to make a payment of 30% of your mobile price. For example, if your chosen mobile phone price is N100,000 you will be required to pay N30,000 first.

Quick Read: How To Apply For NPF Microfinance Bank Loan In Quick Steps

6. Choose how you pay (repayment term)

Before you are given the mobile, you will have to choose between the below repayment term:

  • 3 months repayment term
  • 6 months repayment term

Do take note, that each repayment term has a different interest rate, take a look at it before choosing.

7. Get verified

This last step requires you to verify yourself by providing your friends and family names.

You will be required to present the names and phone numbers of 4 people whether from your family or friend.

2 of the 4 people will be called to vouch for you, they will be called in case you fail to repay your loan.

Quick note: To make your identification process smoother, make sure to push a call to those you want to use as vouch to talk well about you.

How do I get a mobile finance loan from Easybuy?

To get a mobile loan with Easybuy, find an agent, meet requirements, fill out the form and get your device.

How much loan can I apply for with Easybuy?

The mobile loan company gives you loans from #10,000 to #50,000, it all depends on your phone choice.

Easybuy loan term

Easybuy mobile loan is categorized into 2 different repayment terms:

  • 3 months (90 days) repayment term
  • 6 months (180 days) repayment term

Each repayment term comes with its own interest rate.

 Easybuy interest rate

As mentioned above, Easybuy loan interest depends on the repayment term you choose, we will display them below:

  • 3 months (90 days) repayment term with an interest rate of 9%
  • 6 months (180 days) repayment term with an interest rate of 6%

Easybuy loan repayment

Below is the list of ways with which you can repay the Easybuy loan:

  1. Using your mobile app (transfer)
  2. Through the Easybuy app (in-app payment)
  3. POS or physical bank transfer

How to Repay Loans via the Easybuy App

If you choose to repay your loan via the Easybuy app, then follow these steps:

  • Launch the Easybuy loan app
  • Log in with your details
  • Go to “Loan history” and click on “Pay now
  • Click on “Repay with Bank card” and enter your card info

Note: It is advised that you screenshot the repayment process, this is to help you investigate in case of repayment errors (repayment not reflecting).

If you have your repayment for more than 24 hours, it is advised that you contact Easybuy customer support or mail them with the issue.

See more: Apply For BAOBAB Loan 2022 – Quick Access To Loans (N20,000)

Easybuy Loan App Download

To use the Easybuy loan app to monitor your mobile loan, you can download the loan via Google Play Store by searching for the official Easybuy.

Easybuy Customer care

In case you have complaints or issues with payments or their services, make contact through these channels:

Phone numbers: 018888188 (9 am to 5:30 pm, Monday to Friday)

Email: support@easybuy.loans

Easybuy address

If you have issues that can’t be solved over the above channels, you can easily go to their head office.

For easy support, you can also visit Easybuy-affiliated phone stores near you for quick service.

Easybuy head office is located at number 9, Ogunnusi Road, Ogba Ikeja in Lagos, Nigeria

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