They look at factors such as the customer’s banking activity, their credit history, loan facilities with other lenders and their ability to repay to determine the amount a customer can borrow.
- As such, channeling all incomes into a single Equity Bank account increases the chances of a higher loan limit.
- On borrowing history of the user, both within the bank and those with other lenders is examined thus if you have a bad credit history your limit will not be increased.
- Payment of loan ie; Punctual payment of loans increase chances of higher loan limits while late payment of loans reduces loan limits. Failure to repay loans can result in user details being shared with the Credit and Reference Bureau (CRB), which could halt access to EazzyLoans.
To look at a variety of possible loans offered by equity, use this enhanced loan calculator by the bank