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.
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.
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:
- Using your mobile app (transfer)
- Through the Easybuy app (in-app payment)
- 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.
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)
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