Easybuy Review in Nigeria

Easybuy in Nigeria is a legit mobile financing payment service that enables individuals and businesses to purchase smartphones like Tecno, iTel, Infinix, Samsung, and iPhone on credit. It’s more like a loan platform but they don’t dispense cash into your bank account. Instead, you can only get your gadgets on credit and pay in installments. They areĀ a subsidiary platform of PalmCredit, a financial company in Nigeria rivaling OPay and PalmPay. This article will be a detailed Easybuy review in Nigeria.

In today’s naira devaluation in Nigeria, we’ve seen all phone prices increase. That’s to say; Smartphones are now costly, making it difficult for average people to afford a good phone that’s featured with high-grades functionalities. This is where Easybuy comes in. If you cannot afford your desired smartphone, worry less because, with Easybuy Loan Service, you are eligible to buy any high functionalities-featured smartphones in Nigeria with just a 30% down payment and pay the rest in installments per day, per week, or month. You’re allowed to pay back the remaining 70% between the range of 3 months and 6 months.

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How does Easybuy work in Nigeria?

Easybuy maintains partnerships with several smartphone retailers in Nigeria. The Buy Now Pay Later platform also has dedicated agents nationwide debuting services or being an intermediary between retailers, consumers, and Easybuy.

Here is the flow of transactions: Easybuy -> Agent -> Phone Retailer -> Consumer. This works in the sense that when you walk into a phone shop and pick the smartphone you wish to purchase on credit, all your necessary documents such as BVN, NIN, Capture, and ATM Card will be obtained by Easybuy Agent for proper registration.

After that, the system will go through your credit history and credit score to determine your eligible status. If you’re eligible, then you will be asked to pay at least 30% of the phone price and schedule your preferred repayment duration. However, you can also deposit more than 30%; the higher the down payment you pay, the lesser the loan interest rate.

Once the registration processes are done and confirmed by the Easybuy Agent, the phone seller will hand over your smartphone and you can walk away. You’ve successfully purchased a smartphone on credit using Easybuy.

After that, the Easybuy Agent will settle the phone retailer. Hence, the deal has been closed on the retailer side. You’re now dealing directly with Easybuy; paying your outstanding loan according to your chosen repayment schedule. You can do daily, weekly, or monthly, even after you’ve selected a payback schedule.

This is exactly how Easybuy works in Nigeria. However, do note that you must not default on a repayment for more than a month. If you do, your phone will be locked with “Easybuy Security Plugin” until you make payment for the outstanding month.

Requirements to get Easybuy Phones in Nigeria

Here are the eligible requirements to get mobile phone financing from Easybuy in Nigeria:

Good Credit Score:

This is the number one thing Easybuy will look for in your financial record. The platform’s system will check whether you have any outstanding loans with any digital loan apps, lenders, and banks.

National ID Card:

Another thing required to get a mobile financing loan from Easybuy is providing your valid national means of identification. Easybuy accepts NIMC’s National Identification Number (NIN), International Passport, Voter’s Card, and Driver’s License.

BVN (Bank Verification Number):

Your Bank Verification Number (BVN) will also be required during registration. However, do note that Easybuy does not have access to your BVN or your bank account through BVN. The collection of BVN is for confirming your provided detail; whether you provided correct information or not.

Bank ATM Card:

Your bank ATM card is also needed. Easybuy Agent will link this card to your Easybuy Account/App to pay back your loan easily through the app on your phone.

Initial Payment:

Lastly, you will need at least 30% initial payment for the phone you’re buying on credit.

Overall, do note that maintaining a good credit history/score gives you a higher chances of securing a mobile loan with Easybuy in Nigeria.

Also, read Everything You Should Know about Fine Kudi Loan

How to Buy Easybuy Phone in Nigeria

Follow these steps to buy Easybuy Phone in Nigeria:

Find an Easybuy Agent

Walk into a phone store and first ask the receptionist if Easybuy payment is available. Once the agent is ready to attend to you, provide the required documents and proceed to capture.

Pick your Desired Smartphone

Before you continue to Easybuy Account registration and capturing, select the phone you wish to buy and negotiate the price with the seller. Once you agree on the price, proceed to the agent for capturing.

Create an Easybuy Account

Once the phone price has been agreed upon, the Easybuy agent will create your loan account and take a picture of you holding your national ID card. You will also be required to submit three (3) mobile numbers of your relatives in case of emergencies.

Furthermore, you may also be asked to speak to another Easybuy agent at the headquarters for questioning and confirmation.

Pay 30% of the Phone Price

Once your account is approved, make the initial payment of at least 30 percent of the phone price. For example, if you’re purchasing a smartphone of N100,000, you will be required to pay an initial payment of N30,000.

Choose Repayment Schedule

This is the last step in the process of purchasing an Easybuy Phone in Nigeria. After all the registration and initial payment, you will be required to choose your preferred repayment schedule and duration.

In the Easybuy app, there are only two repayment durations; 3 Months and 6 Months, and three repayment schedules; daily repayment, weekly repayment, and monthly repayment.

Choose as it suits you, keeping in mind that each repayment term has a different interest rate. Be sure to confirm and rethink your decision before making the final choice.

Easybuy Interest Rate

Usually, Easybuy Interest Rate ranges between 6% to 9% per month depending on your loan duration. If you choose 3 3-month (91 days) repayment schedule in your mobile loan application, then you will get an interest at the rate of 9% per month. But if you choose the 6-month (180 days) repayment term, you will get an interest at the rate of 6% per month.

For Example, assuming you purchased a N100,000 smartphone using Easybuy and you select a 3 3-month repayment term in your application, you will have to pay back N127,000, adding N27,000 as the interest for the loan. However, assuming you select 6 6-month repayment term, you will have to repay N136,000, adding N36,000 as the interest for the mobile loan.

How to Calculate Your Phone Price on EasyBuy

PHONE PRICE = N100,000, INTEREST RATE/3MONTHS = 9%, INTEREST RATE/6MONTHS = 6%, Find PRICE for the total Loan Interest for 3 months and 6 months.

For 3 Months:

3 Months * 9% + N100,000 = N127,000.

Loan interest for three months will be N27,000.

For 6 Months:

6 Months * 6% + N100,000 = N136,000.

The Loan interest for six months will be N36,000.

How to Repay your mobile loan finance on Easybuy

Here are the payment methods accepted on Easybuy in Nigeria:

  • Repay via Easybuy App
  • Payment via Bank Transfer
  • Repay via Easybuy Agent
  • Payment via Rave by Flutterwave
  • Repay using Credit/Debit Card

Easybuy App

The Easybuy Mobile App is an easy-to-use and flexible payment app that allows you to repay your mobile loan easily, conveniently, and securely. With the app, you can check your Easybuy balance, repay your loan, and even have control or manage your account.

Easybuy App is available for download on the Google Play Store and Apple App Store for iOS users. However, upon phone purchase, the app will be installed on your phone by the Agent. The main usage of the app is to repay your mobile loan. Furthermore, you can also download the Easybuy APK on the APK store like Softonic.

How to Use the Easybuy App

You can use the Easybuy Mobile App to repay your outstanding loans, check your balance, update your repayment schedule e.g. daily, weekly, or monthly, edit and manage your account, and more. Here’s how to use the Easybuy App:

Repay Mobile Loans

Follow these steps to pay your Easybuy Phone Loan via the App:

  • Login your Account into the Easybuy App
  • Tap on “Loan History” in your dashboard
  • Tap on “Pay Now”
  • Select “Payment Method” out of the saved list. Credit/Debit card is the default method, that’s why your ATM is required during registration.
  • Tap “Repay with Bank Card”
  • An OTP may be sent to your card registered number, confirm the code
  • Tap “Pay Now” and viola, you’ve successfully paid for your mobile loan.

How to Check Easybuy Repayment Balance

To check your outstanding balance or remaining loan balance on the Easybuy App; Tap on the “Account” tab in the app, then scroll down and select “Loan History.” In the Loan History section, you will see all your available balances including outstanding balance and paid balance.

However, you can also check your “Easybuy Balance” via the web. Simply log in to your account on “Easybuy Nigeria Website” and navigate to the “Account Management” section. Now, Tap on “Loan History” to see all your transaction history including the remaining loan balance and paid balance.

Manage Account, Profile, and Payment Account

You can manage your Easybuy Account/Profile on the app. You can also check your payment account details on the Easybuy Mobile App.

To do that, kindly tap on the “Account” tab in the app and tap on “Payment” to view all your payment details such as payee names, account numbers, payment methods e.g., credit/debit cards, and more.

In addition, you will also be able to see your repayment due date, default payments, and all payment history.

Easybuy Nigeria Contact Information

You can contact the Easybuy Nigeria Customer Care Center via the following means:


Easybuy Nigeria does a critical work by helping those who can’t buy a smartphone at once get it bit by bit. It is quite essential in Nigeria’s current economy. Easybuy helps people financially with it’s mobile financing loans.

It’s essential to understand that the new phone isn’t just a gadget but a connection to education and opportunities. Easybuy is also legit and not a scam. Just do well to understand how they work, calculate your loan repayment properly and have a repayment plan.

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