Ez Cash Loan By Stanbic Ibtc: How To Apply, Requirement And Benefit

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Sirmike Thursday, 19 September 2024, 6:03 pm

EZ Cash is a term loan offered by Stanbic IBTC Bank to eligible active current account holders. It allows you to access funds ranging from N20,000 to N4,000,000 for a period of 12 months, anytime, anywhere with no documentation required.

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To qualify for EZ Cash, you must:

Be an active current account holder with Stanbic IBTC Bank
Have a minimum monthly salary of N50,000
Have a good credit history

The interest rate for EZ Cash is 2.5% flat per month. This means that if you borrow N100,000, you will pay N2,500 in interest per month. You will also be charged a management fee of 1% on the amount borrowed and a VAT deduction of 0.075%.

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The repayment of EZ Cash is spread over 12 months. You can choose to repay the loan in full at the end of the 12 months, or you can choose to repay it in installments. If you choose to repay the loan in installments, you will be required to make monthly repayments.

To apply for EZ Cash, you can:

Dial 90944# on your phone
Log in to your Stanbic IBTC online banking or mobile banking account
Visit a Stanbic IBTC Bank branch

The application process is quick and easy. You will be required to provide some basic information, such as your name, address, and contact details. You will also be required to provide your monthly salary.

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If your application is approved, you will receive the funds in your Stanbic IBTC current account within minutes.

Here are some of the benefits of EZ Cash:

It is a quick and easy way to access funds
You do not need to provide any documentation
The interest rates are competitive

Here are some of the drawbacks of EZ Cash:

The interest rates are high
You are required to repay the loan within 12 months
There are fees associated with the loan

Overall, EZ Cash is a good option for people who need quick access to funds. However, it is important to be aware of the interest rates and fees associated with the loan before you apply.

How To Apply Ez Cash Loan By Stanbic Ibtc

Here are the steps on how to apply for an EZ Cash loan by Stanbic IBTC:

Check if you are eligible. You must meet the following eligibility criteria to apply for an EZ Cash loan:
- You must be a Nigerian citizen.
- You must be at least 18 years old.
- You must have a valid bank account with Stanbic IBTC Bank.
- Your account must be at least 12 months old.
- You must have a good credit history.
Choose your preferred application method. You can apply for an EZ Cash loan through the following channels:
- USSD: Dial *909*44# on your phone.
- Internet banking: Log in to your Stanbic IBTC internet banking account and click on the “EZ Cash” tab.
- Mobile app: Download the Stanbic IBTC mobile app and click on the “EZ Cash” tab.
Provide your personal details. When you apply for an EZ Cash loan, you will be required to provide your personal details, including your name, address, phone number, and email address. You will also be required to provide your bank account number and the amount of loan you want to borrow.
Submit your application. Once you have submitted your application, Stanbic IBTC will review your application and notify you of their decision within minutes. If your application is approved, the loan amount will be credited to your bank account immediately.

Here are some additional things to keep in mind when applying for an EZ Cash loan:

The maximum loan amount you can borrow is NGN1 million.
The interest rate for an EZ Cash loan is 2.5% per month.
The repayment period for an EZ Cash loan is 12 to 24 months.
You will be charged a management fee of 1% of the loan amount and a VAT of 0.075%.

Requirements for Applying for Ez Cash Loan

The requirements for applying for an EZ Cash loan from Stanbic IBTC Bank are as follows:

You must be an active current account holder with the bank for at least 12 months.
You must be at least 18 years old and not older than 59 years old.
You must have a satisfactory credit report.
You must not have any history of dud cheques.
You must have a valid means of identification, such as a driver’s license or national ID card.

The loan amount you are eligible for will depend on your average monthly income and the monthly loan repayments on existing loans (if any). You can apply for an EZ Cash loan online or at any Stanbic IBTC Bank branch.

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Here are some additional details about the EZ Cash loan:

The loan amount ranges from N20,000 to N4,000,000.
The loan term is 12 months.
The interest rate is 2.5% per month.
There are no processing fees or collateral required.

To apply for an EZ Cash loan, you can visit the Stanbic IBTC Bank website or visit any branch of the bank. You will need to provide your personal information, your current account details, and your income documentation. The application process is quick and easy, and you can usually get approved for a loan within minutes.

Ez Cash Loan Interest Rates

The interest rate for EZ Cash loans from Stanbic IBTC Bank is 2.5% per month. This means that if you borrow N100,000, you will pay N2,500 in interest per month. The loan must be repaid within 12 months.

There is also a management fee of 1% on the amount borrowed, and a VAT deduction of 0.075%. For personal banking customers, an insurance premium on the loan amount will be charged based on the tenor of the loan (0.45% for 1 to 12 months and 0.65% for 13 to 24 months) and insurance company selected by the Borrower.

Advantages of Ez Cash Loan

Instant access to funds: You can apply for an EZ Cash loan online or through the Stanbic IBTC mobile app, and you’ll typically get approved and receive the funds within minutes. This makes it a great option for those who need quick access to cash for unexpected expenses.
No documentation required: You don’t need to provide any documentation to apply for an EZ Cash loan, which makes the process quick and easy. All you need is an active Stanbic IBTC current account that has been open for at least 12 months.
Flexible repayment terms: You can choose to repay your EZ Cash loan over a period of 12 to 48 months, which gives you plenty of flexibility. You can also make early repayments without penalty, which can help you save money on interest.
Competitive interest rates: The interest rate on EZ Cash loans is 2.5% per month, which is competitive with other personal loans in Nigeria. However, it’s important to note that the interest rate will vary depending on your credit score and other factors.
Convenient repayment options: You can repay your EZ Cash loan through your Stanbic IBTC current account, or you can set up automatic repayments through the bank’s mobile app. This makes it easy to keep track of your repayments and ensure that you don’t miss a payment.

Overall, EZ Cash is a convenient and flexible loan option that can be a good choice for those who need quick access to cash. However, it’s important to compare the interest rates and repayment terms of other personal loans before you apply.

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Here are some of the disadvantages of EZ Cash loan:

High interest rates: The interest rate on EZ Cash loans is relatively high, so you’ll need to make sure that you can afford the monthly repayments.
Short repayment period: The maximum repayment period for an EZ Cash loan is 48 months, which is shorter than some other personal loans. This means that you’ll need to make larger monthly repayments.
Not available to everyone: You won’t be eligible for an EZ Cash loan if you have a poor credit history.

If you’re considering an EZ Cash loan, it’s important to weigh the advantages and disadvantages carefully to decide if it’s the right option for you.

Ez Cash Loan USSD Code for Loan

The USSD code for the Stanbic IBTC EZ Cash loan is *909*44#. To apply for a loan, simply dial this code on your phone and follow the instructions. You will need to provide your account number, BVN, and other personal details. If you are approved for a loan, the funds will be credited to your account immediately.

Here are the steps on how to apply for an EZ Cash loan using the USSD code: