The Ultimate Easybuy Review + How To Buy Phones On Credit


If you’re not financially buoyant and want to obtain that dream phone you’ve always wanted, Easybuy will help fulfill your desire. Because the price of smartphones is increasing daily, customers can access the Easybuy site to acquire smartphones on credit and pay them back in installments. 

With this in mind, we’ll provide you with helpful information regarding Easybuy. In this article, we’ll review its interest rate, customer support, and how to purchase Easybuy phones. Therefore, read carefully to make the best choice possible regarding Easybuy.

Table of Contents

EasyBuy Review

Easybuy is a point-of-sale phone financing solution. It allows users to purchase any mobile device of their choice on credit and pay it back in installments at their convenience. However, before you can access a loan on Easybuy, you need to make a deposit. The amount of the deposit should not be below 30%. After this, you’ll receive the phone you deposited for. 

Also, the interest charges range from 6% to 9% each month. But this depends on the length of the loan. And rather than paying the entire amount upfront, you may pay in monthly payments as you take the phone home.

We all know that the prices of smartphones are constantly rising. In many instances, our favourite smartphone is too expensive for us to afford right away. That is why the Easybuy loan app is accessible, and it allows you to buy your ideal phone without having to pay the total amount.

Easybuy is part of Newedge Finance Limited. The vision of Newedge Finance Limited is to make finance easy and accessible across Africa. They also own Palmcredit.

Buy Now, Pay Later

Easybuy’s lending business is popularly called “buy now, pay later.” Buy-now-pay-later is a “payment option that delays complete payment at checkout,” according to the FIS World Billing Report 2020. Buy-now-pay-later is intended to stimulate consumerism, and in the case of online shopping, it may encourage customers to finish orders rather than leave their carts and not checkout. In Australia, this deferred payment option was used in 8% of all online transactions. 

According to FIS, 8.9% of e-commerce transactions in Africa will be completed using this method by 2023. EasyBuy online is not Nigeria’s first buy-now-pay-later service, and Jumia Flex was launched in 2018 for Nigerian clients. In 2018, Flex was characterized as “buy now, pay small.” Flex was a wise choice for an eCommerce provider wanting to increase eCommerce consumers in Nigeria from less than 4%. 

However, the program did not last and was eventually cancelled. Furthermore, a large smartphone store, Slot, also has a buy-now-pay-later option. Also, many merchants offer this service often in various formats and to specific clients such as wage earners. Nevertheless, EasyBuy’s argument is intriguing, and its’ pay later’ feature might be expanded to include online and physical transactions.

Requirements For Easybuy Loan Service

To apply for a smartphone finance loan, you must meet the standards listed below.

  1. You must have a consistent flow of income.
  2. You must possess a valid id card. Examples are your International Passport, Voter’s Card, Driver’s License, or NIMC National ID Card.
  3. Your Bank Verification Number (BVN) is necessary. 
  4. A valid ATM card
  5. Your initial payment of 30% for the mobile phone you intend to buy

After completing these prerequisites, Easybuy will grant you the loan within a few minutes. 

Steps To Create Easybuy Account

  • Go to the Google Play Store and download the official Easybuy App (or click HERE).
  • Create an account by inserting the required personal details.
  • Verify your account, then proceed to request a loan.

However, an Easybuy agent is responsible for doing all these for you.

Steps On How To Buy Phones On Credit


Step One: Contact an Easybuy Agent

Easybuy has a strategy in which agents assist in registering customers for the service. You can find these agents at many stores that sell mobile phones and gadgets. Their agents are distinguished by a shirt bearing the Easybuy emblem and brand colours. 

Step Two: Choose Your Ideal Smartphone

After identifying an agent, you can now select the phone you want to buy. The service allows you to buy a wide selection of phones, as long as the store (where you meet the agent) has them in stock. 

Step Three: Sign Up With The Easybuy Agent

Here is the time to sign up with the agent you approached in step one. Sign up after determining what type of phone you wish to finance. Also, you’re to submit information about yourself. These include your name, mobile number, residence, job type, income information, BVN, a valid form of ID, debit account information (to allow auto-debit when monthly payments are due), etc. 

In addition, you’re to determine the initial deposit amount and loan term at this step. Also, you must make a down payment of at least 30% of the phone. Note that the credit terms accessible on EasyBuy are either three months or six months.

Moving further, you must present the names of at least four (4) persons. These persons will serve as collateral. Thus, they must describe you according to the details you submitted. Remember that you’ll be disqualified if they (family, friends, coworkers) don’t speak well of you. 

Step Four: Make Your Initial Payment

Following registration, you will need to submit your first deposit amount. This money is given to the retailer where the purchase is made with the agent. As earlier stated, the down payment must be at least 30% of the mobile phone price. 

Step Five: Download The Easybuy Loan App

After making your payment, you can now install and use the Easybuy mobile app. After signing in, you must configure your loan repayment information. This involves attaching a card to allow the site to debit your account when a payment is due immediately. However, you can also choose to repay your loan before the due date.

How To Be Eligible For The Easybuy VIP Cash Loan

EasyBuy not only makes it simple for you to purchase the phone of your choice. They also provide you with a short-term VIP cash loan. Only individuals who have successfully purchased a phone through EasyBuy and repaid their loan on time are eligible for this EasyBuy VIP Cash Loan.

There’s no such thing as an Easybuy website. Hence, people solely use their mobile app, which you can locate in your app store. You may choose to obtain a cash loan of between N10,000 and N100,000 using the app. The EasyBuy VIP Cash Loan may also be repaid over the course of 3, 4, or 6 months.

Worry no more if you’re looking for a quick loan today for a pressing requirement; EasyBuy VIP Cash Loan has you covered. All you have to do is visit any phone shop, purchase the phone of your choice, pay for it in full, and then select the payment option that best suits your needs.

How Much Money Can You Borrow From Easybuy?

If you meet its requirements, you can acquire a loan between $10,000 and $50,000. Though Easybuy will not provide you with an amount more than this.

How To Repay Easybuy Loan

You can pay back your Easybuy loan via the following methods:

  • Using the Easybuy app
  • Depositing payment in cash when you visit a bank.
  • RAVE by Flutterwave 
  • Transfer via mobile apps

How Can I Pay With The Easybuy Loan App?

Follow the steps below to make a payment using the official Easybuy app:

  • Log in to the Easybuy app. Then, go to “Debt History” and click “Pay Now.”
  • Click “Repay with a Bank Card.” Once you’re done, input your credit card information.

When paying with the app version, we’ll advise you to take a snapshot of the transaction details. So that it will serve as proof in cases of overpayment, unreflected payments, and other problems. Furthermore, if you require assistance or have a system difficulty when repaying your loan, don’t hesitate to contact Easybuy via their customer service phone or email address.

FAQs About Easybuy

What Is Easybuy Loan Duration?

The loan service offers two distinct repayment options to its customers. We have the following:
1. Repayment period of 3 months (91 days)
2. Repayment period of six months (180 days)

What Is Easybuy Interest Rate?

The interest rate on credit varies based on the repayment period you choose in your application. 
The payback term of 3 months (91 days) has an interest rate of 9% per month. 
The payback term of 6 months (180-day) has an interest rate of 6% per month. 

How Can I Contact Easybuy Customer Care?

Visit for more information. Also, you can contact them via email at
If you need to call customer care via phone, dial +01-8888188.
Now you may quickly acquire the smartphone of your dreams!

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