Boostika na Equity - Equity Bank Kenya

Great features

Frequently Asked Questions

1. What does this solution entail?

This is a loan solution that allows Equity customers to complete a transaction even when running low on cash when using *247#, Equitel or Equity Mobile App. The Boostika amount is from Kshs. 100 - Kshs 100,000 based on your loan limit.

2. What transactions should I be doing to qualify for this solution?

Any Equity customer sending money to mobile wallets or a Bank account, paying for goods and services through the One Equity Till number or buying airtime and runs low on funds gets a Boostika prompt with their limit to complete a transaction.

3. How does it work?

It's simple and convenient. When you run low on funds when making a payment, sending money or buying airtime using *247#, Equitel or Equity Mobile App:

You will receive a Boostika prompt displaying your loan limit, and the deficit required to complete the transaction
You will be required to accept the Boostika to proceed as well as and the terms and conditions.
An SMS notification will then be sent to you to confirm and complete the transaction.

4. What channels is the Boostika solution available on?

One can access the Boostika option when sending money or making a payment using *247#, Equitel or Equity Mobile App

5. What is the minimum and maximum Boostika limit?

The minimum amount you can borrow is Ksh 100 and the maximum amount is Ksh 100,000, However, a customer can only borrow an amount within his/her loan limit.

6. Who qualifies for this solution?

One must be an Equity Bank customer
You must be sending money or making a payment using *247#, Equitel or Equity Mobile App
You must have a loan limit to qualify for the Boostika option
You must have an active account for a period of 6 months and above
You should have a good repayment history

7. What are the repayment terms for Boostika?

The Boostika facility is repayable within 30 days.

8. How can I check my loan limit?

Dial *247# > Borrow > Check Loan Limit > Eazzy Loan
Equity Mobile App > Go to Borrow > Get Loan > Apply Now > Check Loan Limit
Equitel > My Money > Eazzy Loan > Loan Limit

9. How can I repay the Boostika?

Amount due for Boostika will be repaid through an Auto Sweep from borrower's operative account or a customer can decide to prepay or clear in full using the channels listed above by selecting: Partial Payment - to partially pay Full Payment - to clear the loan

10. How do I know my outstanding balance?

Dial *247# > Borrow > View Loan balances
Equity Mobile App > Go to Borrow > Get Loan > Eazzy loan> Loan Balance
Equitel > My Money > Eazzy Loan > Loan Balance

11. How many times can I apply for Boostika Solution?

You can apply as many times as possible, as long as you have a loan limit.

12. Can I withdraw the Boostika received?

No, the amount is only for completing the transaction when you ran low on funds when making a payment, sending money or buying airtime.

13. Will I get money reversed if I send/pay to a wrong number/till and had used Boostika?

Yes, an individual can place a reversal request through our customer care contact channels

Call 0763 000 000
Email info@equitybank.co.ke

14. Will my limit ever increase or decrease?

Yes, an individual’ s limit is reviewed monthly to determine whether it should be increased or decreased based on the account behavior, account transactions as well as the loan repayment history.

15. What are the charges for Boostika?

The charges are:

Processing Fee (LACE) 5%
Insurance 1%
Excise duty 20% of LACE
Interest of 18 %pa

15. What are the key benefits of Boostika?

Instant & convenient: The Boostika option is embedded on the transaction journey when one runs low on funds when making a payment, sending money or buying airtime, therefore offering one the convenience of completing a transaction seamlessly without exiting the payment journey
Ease of access: You will simply receive a Boostika prompt displaying your loan limit, and the deficit required to complete the transaction
Accessibility through multiple channels: The Boostika option is available for payments made through multiple channels i.e. 247#, Equitel or Equity Mobile App
One can Boostika as many times as possible, all you need is to have a loan limit to complete the transaction
You only Boostika what you require at that particular time, making it easy for you to manage your finances
The Boostika of Kshs. 100 - Kshs. 100,000 (based on your limit) is unsecured, with a re-payment period of up to 30 days

16. What happens when my account is dormant?

Visit the branch and activate the account at the account opening desk.

17. What happens if the customer has never been onboarded on any channel?

For USSD channel (*247#) and phone number has changed, fill in the change of static data form and have the number updated at the accounts opening desk.
For STK (Equitel line) visit the Equity mobile and have the number onboarded. If phone number has changed, advice the customer to fill in the change of static data form and have the number updated at the accounts opening desk.
For Equity Mobile App, download App from play store/App store and self-onboard. If the number the customer is using is not in Finacle, advice the customer to fill in the change of static data form and have the number updated at the accounts opening desk.

Why you should sign up for this product

Transacting on Boostika is easy. Simply follow these guides on how to complete your transaction.

How to Transact using Equity Mobile App

How to Transact using USSD *247#

How to Transact using Equitel STK

Eazzy Banking

Boostika