how it works
Step 1: Decide on how much money want and when you’ll repay it
Move the sliders on the homepage and decide exactly how much cash you need and how long you’ll take to repay us. We’ll show the full cost of your loan in real-time and once you’re happy, you can click the “apply now” button.
Step 2: Complete the online application form
You will need to provide us with your personal information on our online application form so that we can determine if you qualify for the loan you want. We’ll ask for your ID number, employment details, monthly income as well as your bank account information.
Step 3: We’ll verify your details and approve your loan
Once your loan has been approved, we will need to verify your income. You will need to provide us with your most recent payslip or bank statement which clearly shows your personal details as well as your income. You’ll also need to approve the debit order request
Step 4: The money will be transferred to your bank account
We will be hard at work to transfer the cash to your bank account in record time. We will collect the repayment from your bank account on the due date, so you just need to ensure the required funds are available.
short term credit
transparency
We’ll always tell you upfront what the total cost of your loan will be, with a clear breakdown of interest and fees. Included in this is our R60 per month service fee and our initiation fee that helps cover the administrative costs for setting up your loan with Eazi.
failure to stick to your side of the deal
The only way costs will mount beyond our initial calculation is if you aren’t able to make the repayment on the agreed repayment date. If our collection attempt is declined by your bank we will do our best to contact you immediately. We always try to resolve the situation that day and your bank may charge you for not having sufficient funds available in your account.
We will then make further attempts to collect the money from your account and our collections team will keep trying to contact you to discuss the situation. If your circumstances have changed significantly, they will do their best to offer a solution and come to an arrangement that helps you get back on your feet.
We don’t believe in applying ongoing charges, but interest and service fees will continue to mount on your balance for a period. If you don’t work with us and we can’t recover the money over a reasonable period, your account may be passed on to our external legal team, which means additional costs could be added to the amount you already owe.
Continued failure to repay a loan will also mean credit bureaus will record the outstanding debt. Records remain on file for a number of years after they are closed, whether settled by you or defaulted.
Finally, your trust rating and your next Eazi application may be impacted, and you probably won’t be able to borrow from us again.
None of these things are worth the risk, so if you have doubts about whether you’ll be able to repay a loan, please don’t put yourself under more financial pressure by applying.