How To Use Equity Bank Boostika Loan

How To Use Equity Bank Boostika Loan

To use the Equity Bank Boostika facility effectively, follow these steps and guidelines:

What is Equity Bank Boostika?

Boostika is a loan solution provided by Equity Bank that allows customers to complete transactions such as sending money, paying bills, purchasing goods and services, or buying airtime even when their account balance is insufficient. It provides a temporary boost of funds to facilitate these transactions.

Qualifications for Equity Bank Boostika

To qualify for the Equity Bank Boostika option, you need to meet the following criteria:

1. Equity Bank Customer: You must have an account with Equity Bank.
2. Transaction Method: You must be using *247# USSD, Equitel, or the Equity mobile app to send money, pay bills, or make transactions.
3. Loan Limit: You need to have a loan limit assigned by Equity Bank to qualify for the Boostika option.
4. Account Active Period: Your account should have been active for at least 6 months.
5. Good Repayment History: A good history of repayment with Equity Bank is required.

Equity Bank Boostika Charges

When using the Boostika facility, the following charges apply:

• Processing Fee (LACE): 5%
• Insurance: 1%
• Excise Duty: 20% of LACE
• Interest: 18% per annum

How to Apply for Equity Bank Boostika Loan

You can apply for the Equity Boostika loan through *247# USSD, the Equity mobile app, or Equitel:

Using *247# USSD

1. To Pay Bills:
   • Dial *247# on your phone.
   • Select “paybill.”
   • Choose your Equity account to pay from.
   • Enter the business number and account number.
   • Enter your PIN.
   • Your Boostika limit will be displayed.
   • Confirm any additional amount required.
   • Accept and complete the payment.
2. To Send Money:
   • Dial *247#.
   • Select “send money.”
   • Choose the account to pay from and the recipient’s account.
   • Enter the amount and your PIN.
   • Your Boostika limit will be displayed.
   • Confirm any additional amount required.
   • Accept and complete the transaction.

Using Equity Mobile App

1. To Pay Bills:
   • Log in to the Equity mobile app.
   • Select “paybill.”
   • Choose your Equity account.
   • Enter the business number and account number.
   • Enter your PIN.
   • Your Boostika limit will be displayed.
   • Confirm any additional amount required.
   • Accept and complete the payment.
2. To Send Money:
   • Log in to the Equity mobile app.
   • Select “send money.”
   • Choose the account to pay from and the recipient’s account.
   • Enter the amount and your PIN.
   • Your Boostika limit will be displayed.
   • Confirm any additional amount required.
   • Accept and complete the transaction.

Using Equitel

1. To Pay Bills:
   • Open the Equitel STK menu.
   • Select “paybill.”
   • Choose your account.
   • Enter the business number and account number.
   • Enter your PIN.
   • Your Boostika limit will be displayed.
   • Confirm any additional amount required.
   • Accept and complete the payment.
2. To Send Money:
   • Open the Equitel STK menu.
   • Select “send money.”
   • Choose the account to pay from and the recipient’s account.
   • Enter the amount and your PIN.
   • Your Boostika limit will be displayed.
   • Confirm any additional amount required.
   • Accept and complete the transaction.

Equity Bank Contacts

• Phone: +254 763 000 000
• Email: info@equitybank.co.ke