Estimate your monthly installment, processing fee, insurance, and excise duty on an Equity Bank Eazzy Loan — accessed via *247#, the Equity Mobile App, Equitel, or Equity Online.
Equity Bank's Eazzy Loan is a mobile-first personal loan accessed by dialling *247#, or through the Equity Mobile App, Equitel, or Equity Online, and disbursed straight into your Equity Bank account. Unlike a one-off, fixed-fee mobile loan such as KCB M-PESA, the Eazzy Loan charges a monthly interest rate on a reducing balance across a flexible term, alongside upfront fees. This calculator takes your loan amount, interest rate, and term, and works out the processing fee, insurance, excise duty, monthly installment, and total cost.
How Much Does an Equity Eazzy Loan Cost?
Equity charges monthly interest of roughly 1.08% to 1.8% (about 11%–13% per annum) depending on the specific product tier, plus a one-off processing/appraisal fee of 5% of the amount borrowed, an insurance fee of around 1% on some personal loan tiers, and excise duty charged on the transaction and processing fees as required by Kenyan tax regulation.
How Do I Use the Eazzy Loan Calculator?
Enter the loan amount you want to borrow, between KES 100 and KES 3,000,000. Use the monthly interest rate slider to set a rate within Equity's published 1.08%–1.8% range — use your actual quoted rate if you already have one. Choose your repayment term in months, and toggle the insurance fee on or off depending on whether it applies to your loan tier. The calculator shows the processing fee, excise duty, insurance, monthly installment, total interest, and total cost.
What Are the Eazzy Loan Limits and Terms?
Eazzy Loans range from as little as KES 100 up to KES 3,000,000. Repayment terms are flexible, from 1 month up to 24 or 36 months, depending on whether you take a short-term mobile advance or the longer Eazzy Plus loan.
How Do I Apply for an Eazzy Loan?
Apply by dialling *247#, or through the Equity Mobile App, Equitel, or Equity Online. You need an active Equity Bank account held for at least 6 months, with income regularly channeled through it — your actual loan limit is set by Equity based on that account activity.
Does the Eazzy Loan Always Charge an Insurance Fee?
Not always — Equity applies the roughly 1% insurance fee only to specific personal loan tiers, not universally. Toggle it off in the calculator if you know your loan tier doesn't carry an insurance charge.
Why Is Excise Duty Charged on Top of the Processing Fee?
Kenya's Excise Duty Act taxes the fees a lender charges on a loan, not the loan principal itself. This calculator applies excise duty to the processing fee, consistent with how excise duty is charged on other Kenyan bank and mobile loan products.
Verify with Equity Bank: This calculator applies the 1.08%–1.8% monthly interest range, 5% processing fee, ~1% insurance fee, and excise duty on fees published on Equity Group Holdings' Eazzy Loan page. Confirm your exact rate, fees, and term for your specific product tier on the *247# menu, Equity Mobile App, or Equity Online before borrowing.
How much does an Equity Eazzy Loan cost?
Equity charges monthly interest of about 1.08% to 1.8% (roughly 11%-13% per annum) depending on the product tier, plus a one-off 5% processing/appraisal fee, an insurance fee of around 1% on some personal loan tiers, and excise duty on the transaction and processing fees.
What is the minimum and maximum Eazzy Loan amount?
Eazzy Loans range from KES 100 up to KES 3,000,000, with your actual limit set by Equity Bank based on your account activity and channeled income.
How long can I take to repay an Eazzy Loan?
Repayment terms are flexible, from 1 month up to 24 or 36 months, depending on whether you take a short-term mobile advance or the longer Eazzy Plus loan.
How do I apply for an Equity Eazzy Loan?
Dial *247#, or apply through the Equity Mobile App, Equitel, or Equity Online. You need an active Equity Bank account held for at least 6 months with income regularly channeled through it.
Does the Eazzy Loan always charge an insurance fee?
No — the roughly 1% insurance fee applies only to specific personal loan tiers, not universally, so confirm whether it applies to your loan before borrowing.