How To Get A Cash Loan From Easybuy – All You Need To Know

How To Apply For Short-Term Loans In South Africa

How To Get A Cash Loan From Easybuy - All You Need To Know

How To Get A Cash Loan From Easybuy.

A loan is a financial tool that assists both firms and individuals in meeting their financial responsibilities. Yet, most lenders frequently want some type of collateral to act as security before making a loan to secure repayment.

Not everyone in Nigeria has something they can use as collateral to get a loan. This is why unsecured loans are so crucial. Today, company owners and individuals can apply for instant internet loans without pledging any assets as collateral. Easybuy provides such loans to those in need of quick cash.

Why Get A Loan

1. Debt Consolidation

One of the most typical reasons for taking out a personal loan is to consolidate debt. When you apply for a loan and use it to pay off various other loans or credit cards, you combine all of the outstanding sums into a single monthly payment. This debt categorization makes it easier to determine a time range for paying off your bills without being overwhelmed.

2. Salary Advance

Payday loans have short repayment terms, usually between two and four weeks until your next payday. Borrowers frequently struggle to return their loans on the due date due to the rapid turnaround time. Borrowers are frequently required to renew the loan, which adds the accrued interest to the principal. This raises the overall amount of interest owed.

3. Emergency

If you have an unexpected expense, such as paying for a loved one’s funeral, a personal loan could be a low-cost choice. The median cost of a funeral is $7,640, which is out of reach for many families.

Unexpected medical expenditures are another typical cause for obtaining a personal loan, particularly if your doctor expects full payment. You may require a personal loan to pay unforeseen medical bills after negotiating with the hospital, doctor, and insurance provider.

4. Large Purchase

Whether you need to buy a new washer and dryer or replace the transmission in your car but don’t have the money, a personal loan can help.

Personal loans enable you to cover large automotive repairs or acquire big household equipment and electronics right away, which is especially useful if you require your car or those appliances on a regular basis. Though you’ll have to pay interest and sometimes upfront fees, a personal loan can save you time and money in the long run by allowing you to avoid using laundromats, rental cars, and other expensive short-term alternatives.

5. Vehicle Financing

A personal loan is one way to cover the cost of a car, boat, RV, or even private jet. It’s also one way to pay for a vehicle if you’re not buying it from the company directly.

For example, if you’re buying a used car from another consumer, a personal loan will allow you to purchase the car without emptying your savings account.

6. Wedding Cost

A wedding loan can be used for large-ticket goods like the venue and the bride’s gown, as well as lesser expenses such as flowers, photography, the cake, and a wedding coordinator. If you don’t want to exhaust your savings account, consider taking out a personal loan to help you plan the perfect engagement and wedding.

7. Vacation Expenses

A typical vacation may not involve taking out a personal loan, but what about a honeymoon or a luxury cruise? Personal loans can help you finance your dream holiday, whether you’ve just graduated or are celebrating an anniversary. But, keep in mind that you will be paying interest on that loan long after your vacation is finished.

Easybuy Cash loans

Sometimes in life, we go about our normal daily activities and then there is always life to surprise us with unplanned events, these surprises could be negative or positive, for instance, a promotion at work, or a medical emergency. These events meet us unplanned and can come with a need for urgent cash, this is when a loan comes into view as a viable option.

When making a list of available loan companies in Nigeria, we often leave out Easybuy, because it is a popular belief that the fintech firm is limited to funding phone and gadget purchases. Well, that’s not true! You can get fast VIP cash loans from Easy Buy. Only those who have successfully bought a phone through Easybuy and paid off their loan on time are eligible for this Easbuy VIP Cash Loan.

How To Apply for Easybuy Cash Loan

Easy Buy does not have a website; instead, they use an application that can be found in your app store or Play store. Through the app, you will be able to apply for a cash loan ranging from N10,000 to N100,000. The Easybuy VIP Cash loan can also be repaid in 3, 4, or 6 monthly installments.

How Much Money Can You Borrow From Easybuy?

As long as you match the prerequisites, you are eligible for Easybuy VIP cash loans ranging from $10,000 to $100,000. Easybuy will not provide you with a loan in excess of this amount.

How To Get A Loan From Easybuy

It is quite simple to obtain a loan with the Easybuy app.

  1. Get the app from your app store.
  2. Sign in to the app with your information and finish the KYC registration.
  3. Fill out the loan application
  4. Please wait for verification and confirmation.

You will be able to obtain your Easybuy VIP cash loans once you have been authorized.

Easybuy VIP Cash Loans Terms

Easybuy offers two distinct repayment options to its customers. We have the following:

3 months (91 days)

6-month payback period (180 days)  

payback period Interest Rate Easybuy.

Loan Repayment With Easybuy

You can pay back your Easybuy VIP cash loans in the following ways:

  1. Use the Easybuy app
  2. Transferring through mobile apps
  3.  Paying over the counter in a bank
  4. RAVE by Flutterwave

How To Repay A Loan Using The Easybuy App

Follow the steps below to pay using the official Easybuy app:

  1. Log in to the Easybuy application.
  2. Go to “debt history” and select “Pay now.”
  3. Hit “Repay with Bank Card” and enter your card information.

When paying with the official app, users are frequently urged to take a screenshot of their payback process. This could come in handy in circumstances of overpayment, unreflected payments, and other mistakes.

If you require assistance or encounter a system difficulty while repaying your loan, you contact Easybuy via their customer service phone or email address.

FAQS

1. Is the Easybuy VIP cash loan app different from the regular Easybuy app?

It is the same app. The same Easybuy app allows both phone purchase funding and Easybuy VIP cash loans.

2. What Is The Interest Rate of Easy buy?

It actually depends on your loan tenure. The duration of your loan determines how much percent interest you will be paying. If your loan tenure is three months, you will be paying an interest of 9% of your loan monthly, and if your loan tenure is six months, you will be paying a 6% interest rate monthly.

3. How To Repay Easy Buy Loan:

Repaying your Easybuy loan is as easy as logging into the app on your device, and clicking the “pay now” button on your dashboard. If you have a card attached, click on repay with card and if you don’t, attach a card you are comfortable using for repayments.

4. What Are The Requirements To Get A Loan From Easy Buy

There are lists of things that have to be in place to ensure the success of your loan when applying with Easybuy, they include:

i. Proof of employment or stable monthly income

ii. A valid means of identification

iii. A valid and functioning ATM Card

iv. A down payment of 30% of the phone price.

Conclusion

The Easybuy VIP Cash loans can only be accessed by those who have previously purchased a phone or device with easybuy funding and have been able to successfully complete repay their loans in due time, hence the term “VIP” insinuating one who is a trusted borrower. At the completion of your device funding loan repayment, you become eligible to access Easybuy VIP Cash loan easily.