Every day, money seems to disappear. One minute your salary has arrived, and the next you wonder where it went after buying groceries, paying rent, and paying for fare.
For Equity Bank customers, however, running short of money does not always mean abandoning a transaction.
Boostika na Equity allows eligible customers to borrow money when their account balance is insufficient to complete transactions.
The short-term facility provides a financial cushion when an urgent payment comes up before the next income arrives.
Boostika helps to bridge the gap, subject to the customer’s approved loan limit and the facility’s terms.
How Boostika Works
Eligible customers can complete a transaction even when they don’t have enough money in their account.
The service can be used to send money to a mobile wallet or bank account, pay for goods and services through a One Equity Till number, or purchase airtime.
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When a customer attempts a transaction but has insufficient balance, they receive a Boostika prompt showing their loan limit and the deficit required to complete the transaction.
The customer accepts the offer and agrees to the applicable terms before the transaction proceeds.
An SMS confirmation is then sent to complete the transaction.
The facility can be accessed through *247#, Equitel, or the Equity Mobile App. Customers do not necessarily need to visit an Equity branch to access the overdraft service.
Who Can Access the Facility?
Boostika is available to Equity Bank customers who meet the bank’s eligibility requirements. Customers must have an active Equity account for at least six months, have a loan limit, and maintain a good repayment history.
The available amount depends on the customer’s approved loan limit. Boostika amounts range from KSh100 to KSh100,000, and customers can only borrow up to their limit.
Unlike an ordinary loan, where the borrower receives cash that can generally be used for different purposes, Boostika is tied directly to the transaction that fell short.
The amount borrowed cannot be withdrawn as cash. It is specifically used to complete a payment, transfer, or airtime purchase when the customer’s existing balance is insufficient.
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How to Repay Equity Boostika
Boostika is a short-term facility that must be repaid within 30 days. Repayment can be made through an automatic sweep from the borrower’s operating account.
Customers can also choose to make partial or full repayment through the available banking channels.
Customers can monitor their outstanding balance through *247#, the Equity Mobile App, or Equitel.
The facility differs from simply spending beyond an account balance without an approved credit arrangement.
Customers should check the applicable loan terms and charges before accepting a Boostika offer.
Equity customers are further advised to check the guide for applicable charges, while the specific terms and obligations of a loan are provided during the borrowing process.
Customers who need a larger or more conventional digital loan can also access Eazzy Loan, with amounts ranging from KSh100 to KSh3 million for qualifying customers. Eazzy Loan requires an active Equity account for at least six months and is available through Equity’s digital channels.
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