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Everything You Need to Know About Easy Buy (Buy Now and Pay Later, Requirements)

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Everything You Need to Know About Easy Buy (Buy Now and Pay Later, Requirements)

Everything You Need to Know About Easy Buy (Buy Now and Pay Later, Requirements)

Easy Buy is a subsidiary of Palm Credit, a loan application that offers loans to people, which will be paid back in installments. With Easy Buy, you can buy phones and pay them back in installments.

It is no longer news to us that smartphones are now costly, although there are still some that are affordable in Nigeria. With Easy Buy, you can take home a high-quality phone, as Easy Buy allows you to pay only 30% of the said phone up front while paying 70% in installments. 

Why Easy Buy?

Easy Buy is really good, especially for working-class or salary earners, as you can get a smartphone of your choice while paying in installments. Besides, you will be able to focus on other things that need financial attention. You will no longer have to wait until you have a complete payment before you can buy a new phone.

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Easy Buy Loan Requirements

To qualify for an easy-buy loan, you must be at least 18 years old, employed, or have a means of income. You will be requested to present a valid form of identification, such as a voter’s card or NIN, and your ATM card. 30 percent of the smartphones you want to buy.

For example, if you are buying a phone that is worth #50,000, you are expected to pay 30%, which is #15,000 only. So the remaining 70% will be paid in installments.

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How to get Easy Buy phones in Nigeria


Easy Buy doesn’t have a phone store itself; they are in partnership with vendors. So you will need to visit any nearby phone store and ask for an Easy-Buy agent. You can easily identify them by their vests.

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After locating the Easy Buy agent, select the phone that you wish to buy. Make sure you select a phone that you know you are capable of paying back without issues. After selecting the phone, the agent will ask you a few questions, which may include your work, financial status, and negotiations. You will negotiate the amount you want to buy the phone, and reach an agreement.

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After an agreement is reached on the amount you want to pay, the next step is to apply for a loan from Easy Buy. The agent is in charge of this, as a picture of you will be taken and some other information, like phone numbers of your relatives, will be obtained. Easy Buy may call you or the number you submitted as part of the prerequisite to ensure that the details you submitted are correct. Once your loan application is approved, you will be requested to make an initial deposit of 30%, as explained earlier. 

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So, after making an initial deposit, the next step is a repayment plan. This depends on your financial status. EasyBuy gives you the option to pay back between 3 and 6 months. The shorter the plan, the lesser the interest. You can choose to pay it back in six months. When I bought my Infinix phone from Easy Buy, I chose a 5-month repayment plan because that’s when I could afford to pay it back. 

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How much money can I get from Easy?

You can get between #5,000 and #200,000 depending on your credit score. For a starter, you can’t get a loan higher than #50,000, but for VIPs, they can get a loan up to #200,000. VIPs are those who have used Easy Buy more than once and paid back before the due date.

What is the percentage for Easy Buy?

The minimum percentage is 30% of the phone you want to buy, so before walking to the store to get a phone, make sure you already have an initial deposit of 30%, but I will advise you to have up to 50% so that the repayment plan can be easier for you.


Can Easy Buy lend me money? 

Yes, Easy Buy can borrow you money, but that will be after you finish paying your initial loans. For example, if you buy a phone on credit with a 3-month repayment plan, you will be able to borrow money from Easy Buy after you fully pay back the loan. The primary service of Easy Buy is to give you a loan to buy a phone, but they have added a new service to their app: you can borrow money from them. To be eligible for this, you must have used their service before.

Can I get an iPhone from Easy Buy? 

No, you can’t. Easy Buy does not give out loans to buy iPhones. Their service is primarily for Android phones.

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What will happen if I don’t pay back my loan? 

Easy Buy will embarrass and frustrate you. Also, you don’t have full control over the phone, as a security plugin will be installed on it, and if you default on any payments, your phone’s features will be limited, and you may not be able to call, text, or access some features on your phone. To avoid any form of embarrassment, you are advised to pay back your loan before the due date, and if at all you default on any payment, there is a chance that there will be an increase in the interest.

How can I repay my loan? 

Easy Buy has different options for repayment, which include mobile app transfers, payment through the Easy Buy app, and paying with your ATM card. 

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Easy buy Security plugin.

Easy Buy Security Plugin is a software that is used to protect the phone. This will make it impossible for you to access the manufacturer’s features. That is, you will not be able to factory reset your phone, and this is one of the disadvantages of Easy Buy phones.

How can I remove the Easy Buy Security plugin?

The plugin will automatically remove itself as soon as you complete your loan payment. 

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Can a student use the Easy Buy service? 

Generally, Easy Buy is for the working class and salary earners, not students, but if you have a source of income for repayment, you can go ahead. If you solely depend on your parents, then Easy Buy is not for you. Don’t even try it if you don’t have a means of paying it back.

In conclusion, Easy Buy is really good because you will take home a brand new phone while paying back installmentally. However, before buying a phone on credit from Easy Buy, make sure you have a means of paying back to avoid any inconveniences.

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