EasyBuy Loan App Download Lets You Buy Phone & Pay Later.

easybuy loan app download

This review on the EasyBuy loan app download shows you how to buy a new smartphone (Tecno, Infinix, iTel, iPhone, or Samsung) from the APK app and pay later in Nigeria. With additional features like EasyBuy VIP cash, you can also apply, borrow cash instantly, make a down payment and repay in 3-6 months, with interest charges, in installments every month, and avoid late repayment.

I remember when I came across EasyBuy, I heard about the quick cash lending app for a long time but didn’t really know the details about it and how it could help one buy a smartphone, make a down payment and repay the balance on installment for months until I had to face it myself. I needed a phone back then because the one I had wasn’t working properly anymore.

Some days later my colleague ask me to follow him to the Slot because he wanted me to help him select a great smartphone since I know a lot about the best phone specifications, I followed him and we got there, I told him to pick up a particular phone I’d been fantasizing about buying. He said he didn’t have much so opted for the Slot EasyBuy phones, that sounded strange to me as I had not come across such an offer.

The phone was about Two hundred and Seven three thousand Naira (₦273,000) and he said I should wait to see the wonder, The Lady presented a working phone, registered him and choose the phone he wants, He was asked to make a down payment of Eighty-one thousand nine hundred Naira (₦81,900) and the balance was spread as a loan for six (6) months. Wow! this model amazes me and do you know the funniest part? This colleague of mine actually came to buy the phone for me and I remember the fact that he finished paying the money by himself. You are surprised too, right?

Years later I needed another phone and I remember the flexibility offered by EasyBuy. So I went to a slot in Lagos to get my phone, and made a downpayment with the remaining cash balance spread for 6 months which I paid without defaulting.

Is EasyBuy Genuine – How Does it Work in Nigeria?

Easybuy is a lending platform that operates in association with Newedge Finance Limited (NFL) which is also the owner of Palm credit, another instant loan App. Their motive and their agenda are to drive financial inclusion through cutting-edge technology to help people meet some financial needs by helping them borrow and transact. It’s also to ensure that finances are easily accessible to all Africans.

Newedge Finance Limited ( NFL) is a private Limited liability company incorporated under the Laws of the Federal Republic of Nigeria.

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The EasyBuy app lets you buy a smartphone with a 30% down payment while you pay back the balance in 3 or 6 months. It’s like giving you an instant loan to acquire a phone of your choice with the flexible repayment plan.

They operate at offline retail stores across different centers in Nigeria. When you enter any phone Office, they are always on a Sky blue and Navy blue T-shirt with the Easy Buy logo and name on it.

Easybuy loan app download

How Do You Apply & Qualify for a Phone Loan on EasyBuy?

This is a loan for phones only; it’s a financial product for those looking for a personal loan to buy any smartphone at Slot or any recognized EasyBuy stores near you in Lagos, Abuja, Ibadan, Port Harcourt, Jos, Kaduna, Uyo, or mobile phone shops that offers EasyBuy as an option.

You don’t need to stress yourself about what to do, the relevant details to pre-qualify for EasyBuy phone Loans are always inputted by the EasyBuy agent themselves, all they do is ask you for information about yourself and you respond while they fill it in.

Things you need to be sure of first before you apply for an EasyBuy phone loan: The product to buy, The Model, The Guide Price, The Down Payment, Tenure, Monthly payment, The Interest, Details to Provide, Selfie, BVN, First Name, Last Name, Date of Birth, Gender, Bank Account, Employment Status, Monthly Income, Marital Status, Four Referees who can assure them of your credibility, Valid means of Identification, Address, The State of Origin and Utility bill.

Before you drop details of your Four Referees, ensure you call them to inform them of the call they will receive. Because immediately you fill, the company will place a call across to them, If they call once and it wasn’t picked, your phone loan might not be approved so please ensure you do the needful before they are called.

EasyBuy VIP Cash Loan – Best App to Borrow Money from Easy Buy App

The EasyBuy VIP cash loan is an additional value available to those that have bought a smartphone, and successfully completed their loan repayment in due time without default. EasyBuy let you access quick cash to meet urgent needs.

To access this VIP cash loan, just walk into any of the EasyBuy stores near you, to apply for a loan between 10,000 Naira and 50,000 Naira (which is to be paid back within 3 and 6 months ) with your profile information (First name, Middle name ( Optional), Last name, Date of Birth, Marital Status, Gender, BVN, Address, Work Information, Industry, Employment Status, Monthly Income, Monthly Fixed deduction, Loan Purpose, Your Selfie, Valid means of identification, Valid ATM card)

One thing about EasyBuy is that once you’ve defaulted on your loan repayment in another instant cash app in Nigeria and you have a bad credit score, they can’t give you access to their phone Loan or cash loan. But if you fall in the category of people who have been able to build a good credit score, your loan will be approved immediately and you will be given the phone and loan as long as you are able to meet the criteria.

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What are the Interest Rates on EasyBuy Loan App?

For the EasyBuy phone Loan, the interest rate depends on the loan amount and the tenure you choose, and it ranges from 6% to 9% per month.

Let’s say, you bought a smartphone that cost 182,000 Naira, here is a breakdown of your loan repayment and interest charges:

  • Down payment: 102,000 Naira
  • Loan amount: 80,000 Naira
  • Repayment period: 6 Months
  • Monthly payment: 18, 933.34 Naira
  • Total payment in 6 months: 18, 933.34 x 6 = 113, 600.04 Naira
  • Total amount paid for the smartphone: 113,600.04+ 102,000 = 215, 600.04 Naira
  • The total interest paid = 215, 600.04 – 182,000 = 33, 600.04 Naira

This means that this person was charged 7% Interest per month for 6 months.

If you notice, from this example, the buyer, which was Me, wasn’t charged a 30% down payment. I paid 102,000 for a down payment but I wasn’t cheated. As at the time I bought the phone, it was more expensive than the amount I got from them. It was sold at a promo price which made me pay more than the initial down payment percentage, it even made the whole thing easier but the reason for that was because of the phone type brand and also the model.

For example, EasyBbuy doesn’t offer loans on Tablet Phone, if you want to buy Tab, you have to make a 100% payment Guide Price to the Phone Office to purchase it.

How to Repay your Loan on EasyBuy

Loan repayment on EasyEbuy is much easier, in fact my personal experience was very smooth and the people I recommended had no reason to complain:

Here are the methods to repay your phone loan on EasyBuy:


For me, this is the easiest method for those who have the mindset to repay their loan on time without defaulting. EasyBuy makes use of auto Debit which enables them to deduct the money automatically on every due date. All you have to do is to click on repay and bind your card to your account to make your repayment. They won’t over deduct or take your money after your repayment, They are going to deduct what you are owing them.


This is a method for those who prefer to use their mobile internet banking platform to make payments. All you have to do is to click on repay and choose the repayment method you want and you will be given the account to pay to. Transfer the money into the account and save the receipt or better still screenshot it as proof of payment. And don’t forget that for every bank transfer repayment, the account number given is just for that transaction alone and the time is limited. So be quick in making your payment and wait for it to write ‘Payment Successful’.


If you think you want to make your repayment via cash, just make sure that you are having your full cash with you. You can walk into any of their offices to make your payment, They will do it for you and it will reflect immediately you do it before you leave their office. Or if you take a normal loan and you don’t have a big phone to download the app and make the payment, Just go to any phone office closer to you and give them the cash, they will do it for you. Ensure you go with the details you were given the day you register to enable them log in and repay for you.

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This method takes you to Flutterwave where you make your payment via card binding too but the difference is that you can’t make the payment without the One Time Password also referred to as OTP. A message will pop on your phone giving you a warning that your account is about to be debited of a certain amount and the OTP will be sent to you to copy and submit on the Flutterwave payment page. This method gives you a sense of security. 

Late Repayment of Loan on EasyBuy

This is the aspect where most loan apps get impatient with you and might go legally in retrieving their money from you. And once it’s recorded in their system that you’ve defaulted, it will be very hard to access Loans from them again which might be unfavorable for you because you might need another loan which will come in an emergency.

Late repayment on Easybuy Loan incurs a charge of 2% daily. You can imagine how much you will save to do other things if you are very consistent and able to finish up with repaying your loan on or before the due date.

Once you default, aside from the 2% late repayment fee, your phone also can be locked, it’s not even can, it will be locked. They have access to your phone until you finish paying the loan, that is when you are free. While you are still on loan, the phone cannot be called yours totally until you finish your repayment. If you don’t default, they won’t mess with you wrongly so kindly keep to your own end of the bargain.

How to Download EasyBuy Loan App to your Android & iPhone

Well, it depends on how you come across the system. Whenever you are about to take a phone Loan, the Easy Buy agents are the ones who registers you, activate you, and get you approved. Immediately after you are approved, they are still the one that installs it automatically on your phone because of the loan you are taking. They will install it and do the necessary things needed to do.

But in case you want to download EasyBuy loan for the VIP cash loan you can install the APK from Google but the app is yet to be uploaded to the iPhone store. Once installation is complete, you can go ahead to register and apply for the loan.

How to Contact EasyBuy Customer Care

Depending on your location (Lagos, Abuja, Ibadan, Port Harcourt, Jos, Kaduna, Uyo, or any EasyBuy near you), there are ways you can connect to them when you have issues that need to be resolved.

You can walk to any of the offices around you, You will be attended to immediately.

Also, you can send them an email on: easybuy.service.ng@transsnet.com

Customer care Service-Hotline: +01-7001000

Contact them via their Service Line: 018888188

WhatsApp number: +2347043257113

The Office Address: Tinuade Street Allen Avenue, Lagos Nigeria.

What do you think about this app?

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