EasyBuy Loan – How to Request and Pay Back EasyBuy Loans

EasyBuy Loan – In the hustle and bustle of our fast-paced world, smartphones have truly become our closest companions, keeping us connected and organized every step of the way. From chatting with loved ones to juggling work tasks, these sleek little devices have woven themselves into the very fabric of our daily lives, making them essential for surviving in this digital age.

But, let’s be real for a moment – have you ever felt the excitement of seeing that shiny new smartphone model, only to have your heart sink when you check the price? Yeah, we’ve all been there. In Nigeria, the struggle is even more real, as the cost of high-grade smartphones can be a major hurdle for many folks.

However, just when it seemed like owning a top-quality smartphone was a distant dream, there’s a glimmer of hope on the horizon – EasyBuy, a real game-changer. This innovative mobile financial service, a subsidiary of Palmcredit, is breaking barriers and making smartphone dreams come true for countless Nigerians.

Picture this: you’ve had your eye on that amazing phone for months, and finally, you’re one step away from making it yours. EasyBuy steps in like a superhero sidekick, offering you a loan that lets you buy the phone right away, and the best part – you can pay it back in manageable installments. No more sacrificing other essentials or waiting for years to upgrade – EasyBuy has got your back.

In this blog post, we’re taking you on a thrilling ride to explore how EasyBuy is transforming lives and reshaping the smartphone landscape in Nigeria. We’ll dig deep into the stories of individuals whose dreams of owning a cutting-edge smartphone became a reality, thanks to this fantastic mobile finance service. Say goodbye to generic struggles and join us on this heartfelt journey of aspirations, empowerment, and the power of innovation. Let’s discover together how EasyBuy is making it possible for everyday Nigerians to get their hands on top-quality smartphones without breaking the bank.

What is EasyBuy?

Easybuy, a subsidiary of Palmcredit, has emerged as a convenient mobile financial service that caters to the needs of individuals looking to purchase smartphones through a loan arrangement. In today’s market, smartphones are becoming increasingly costly, especially those with advanced features. While some low-spec models remain affordable, many consumers desire high-grade phones that often come with a hefty price tag.

Recognizing this demand, Easybuy has introduced a unique loan service that addresses the affordability challenge. With Easybuy, customers can now acquire high-quality smartphones in Nigeria by paying only 30% of the device’s price upfront. The remaining 70% can be conveniently paid back in installments over either 3 or 6 months, providing a flexible and manageable payment plan.

To avail of this loan service, interested individuals must meet specific eligibility criteria. Easybuy takes a cautious approach in disbursing loans to ensure responsible lending practices. The company diligently assesses each applicant’s creditworthiness and financial standing before granting loans. This careful assessment helps minimize potential risks for both the borrower and the lender, ensuring a secure and transparent lending process.

By offering this valuable service, Easybuy aims to bridge the affordability gap and make high-quality smartphones more accessible to a broader segment of the population. This initiative can potentially empower individuals with better technology, enhancing their daily lives and opportunities for connectivity in today’s digital age.

EasyBuy Loan Requirements For Mobile Devices

To ensure that the loan process is smooth and efficient, EasyBuy has a few essential requirements for potential borrowers. These include:

  • A Verified Means of Identification: EasyBuy requires borrowers to provide a valid means of identification, such as a driver’s license, international passport, voter’s card, or National ID card.
  • Bank Verification Number (BVN): A BVN is necessary for tracking and verifying banking history, providing an additional layer of security for the loan process.
  • Active ATM Card: Borrowers need to have an active ATM card linked to their account.
  • Good Source of Income: To be eligible for an EasyBuy mobile device loan, a reliable source of income is essential. This ensures that borrowers can repay the loan on time and without difficulty.
  • 30% Deposit: As mentioned earlier, borrowers need to make a 30% down payment of the total phone price to initiate the loan process.

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EasyBuy Loan Limits

Easybuy remains your trusted partner in helping you acquire your dream mobile phone without financial stress. We offer flexible loan options, making it easier for you to own the latest mobile devices. With Easybuy, you can borrow up to 70% of your desired phone’s worth, with loan amounts ranging from N10,000 to N50,000.

EasyBuy Loan Repayment Plan

Easybuy offers two convenient repayment plans to suit your needs and budget:

  • The 3 Months Repayment Plan: Repay your loan within three months of purchasing your mobile phone.
  • The 6 Months Repayment Plan: Enjoy a more extended repayment period of six months.

How to Repay EasyBuy Loan

EasyBuy offers a number of hassle-free loan repayment options. They include;

  • Mobile Transfer: Simply contact Easybuy through our email address to request our bank account details. Then, make the repayment via mobile transfer.
  • Bank Deposit: Visit the nearest bank and deposit the repayment amount in cash using Easybuy’s bank account details.
  • Easybuy Mobile Loan App: Use our user-friendly app to repay your loan. Log in to your account, access your loan history, and click on “repay the loan.” Enter the repayment amount and your preferred payment method. Once submitted, you’ll receive a debit alert and confirmation SMS from Easybuy. For added security, always keep a screenshot of your payment.

EasyBuy Loan Interest Rate

EasyBuy offers clear and competitive interest rates. The interest rate depends on the repayment plan you choose:

  • For the 3 Months Repayment Plan: A fixed interest rate of 9% per month.
  • For the 6 Months Repayment Plan: Enjoy a reduced interest rate of 6% per month.

To better understand the loan cost, let’s illustrate with an example:

Example for the 3 Months Repayment Plan: Phone worth: N50,000 30% deposit: N15,000 Interest rate per month: N3,000 Total interest in 3 months: N13,500 Total amount to be paid: N13,500 + N35,000 = N48,500.

Example for the 6 Months Repayment Plan: Phone worth: N50,000 30% deposit: N15,000 Interest rate per month: N3,000 Total interest in 6 months: N18,000 Total amount to be paid: N18,000 + N35,000 = N53,000.

Loan Repayment Defaulters Penalty

To maintain a good borrowing relationship with Easybuy, we encourage you to repay your loan on time. If, for any reason, you face challenges making timely repayments, contact EasyBuy immediately.

Easybuy customer care number

You can contact them for more information or complaints below;

Phone number: 018888188

Email Address: support@easybuy.com

Head Office: Number 9, Ogunnusi Road, Ogba, Ikeja in Lagos, Nigeria.

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