A Step-By-Step Guide To Hassle-Free Loan Repayment With Equity

By Soko Directory Team / Published September 27, 2023 | 10:55 am



Equity

Are you an Equity Bank customer looking for easy ways to repay your loan? Equity provides a range of hassle-free loan repayment options tailored to your convenience, with the understanding that servicing your loans should be a straightforward and user-friendly process.

Here’s a breakdown of how you can easily and conveniently repay your loan:

Equitel STK (SIM Toolkit)

  • Access the Equitel STK menu.
  • Navigate to “My Money” and select “Eazzy Loan.”
  • Opt for either partial or full payment.
  • Choose your desired account.
  • Input your PIN.
  • Select the specific loan for repayment.
  • Enter the partial payment amount if applicable.
  • Confirm your payment details.

USSD – Dial *247#

  • Dial *247#.
  • Select “Borrow” and then “Pay Loan.”
  • Pick the loan you intend to repay.
  • Specify whether you’re making a partial or full payment.
  • Enter the partial payment amount if applicable.
  • Choose the account from which you’ll make the payment.
  • Confirm your PIN.

Equity Mobile App/Online

  • Launch the Equity Mobile App or access your account online.
  • Navigate to the “Borrow” section.
  • Select “Pay loan.”
  • Pick the account from which you wish to make the payment.
  • Choose the specific loan you intend to repay.
  • Enter the full loan amount or the partial payment amount.
  • Confirm your payment details and proceed with the payment.

Read Also: Equity Unveils Annual Sustainability Report Themed “Growing Together In Trust”

EVA (Equity Virtual Assistant)

Equity

The Significance of Timely Loan Repayments

Here’s why it matters:

  • Fostering a Strong Credit Rating: Timely loan repayments show your financial responsibility, contributing to a positive credit history. A favorable credit rating opens doors to better credit terms and higher loan limits in the future.
  • Access to Favourable Loan Terms: A robust credit profile enables you to secure loans with lower interest rates, extended repayment periods, and more favorable terms. This translates to savings and reduces financial strain.
  • Enhanced Financial Stability: Timely repayments prevent the accrual of additional interest and fees, aiding in maintaining your overall financial stability and keeping you aligned with your financial objectives.

Read Also: Equity Group Makes Ksh 26.3 Billion In 6 Months Of 2023

Easy Loan Access with Equity Bank

Equity Bank goes above and beyond to simplify loan access for its customers, offering a range of hassle-free options to secure loans ranging from Kes 100 to Kes 3 million, all without the need for physical bank visits or guarantors.

These accessible methods include the convenience of dialing *247# available round the clock, the user-friendly Equity Mobile App available for Android and iOS users, seamless loan management through Equitel’s menu for Equitel users, and the flexibility of Equity Online for web-based banking enthusiasts, enabling effortless account access and loan repayments from your computer.

To Download the Equity Mobile App, please use the links below:

Playstore:http://bit.ly/EquitymobileAndroid…

Appstore: http://bit.ly/EquityMobileIOS

or log on to https://equityonline.equitygroupholdings.com

Read Also: Equity Bank And Mastercard Sign A 10-Year Crucial Agreement




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team


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