Telenor Easypaisa loan accommodation has prehended the attention of its users and subscribers. This imprest scheme has been given the denomination “Easypaisa Nano Loan.”
According to the CEO of Telenor, “Our sole purport is to make Easypaisa accommodation an instant digital lending accommodation in Pakistan. To make it facile to transfer, getting, and availing money as loans.”
Who Can Avail Easypaisa Loan?
- Easypaisa provides loans to everyone either he is a student, teacher, driver, businessman, or belongs to any other field of life.
- subscribers of Telenor.
- Anyone with Telenor sim and account. (Either postpaid or prepaid)
Eligibility Criteria for Easypaisa Loans:
- Formerly, for Easypaisa transfer or getting money Identity card of both the sender and the payer, was necessary. However, According to the latest updates from Easypaisa officials, the ID card is not mandatory. Anyone can send and receive money using just verified mobile numbers. You can apply for just using your mobile phone.
- Everyone can apply for the Easypaisa loan.
- GSM usage ( You should have used Telenor sim for Internet & phone calls including messages from the day of issuance of sim)
- Reasonable usage of your Easypaisa account to send, receive, or transfer the money.
Loan Amounts that you can get:
- You can get a loan ranging from PKR 850 to PKR 10,000.
- Loan lent to you depends on how much have you used Telenor services (Easypaisa, Internet packages, SMS packages, WhatsApp and call packages)
- You can not get a loan according to your own fixed amount you wanted to get. It’s at the end of Easypaisa, that finds you eligible for the loan amount.
- If you availed loan first time and then returned honestly before the due date. For the next time, you have chances to avail of big loans, according to your authenticity.
Charges for the Easypaisa Loans:
Easypaisa allows paying back loans within 7-14 days. Charges also vary based on the days.
Loan for 7days:
You’re to return loan along with 10-25% of the total loan taken.
Loan For 14 Days:
You’re required to return a loan along with 12-35% of the total loan amount taken.
If Failed to return within due date:
If you failed to return the loan amount up to the due date, you would have to bear the penalty of 2.5% (This penalty is separate from the original loan amount taken and the charges according to days)
What Happens if you don’t return loan/ Sim card lost or theft?
If you’ve lost your sim card or in case of mobile theft, you’re responsible for submitting an FIR in the Police station against your lost sim card or mobile theft.
Moreover, if you don’t return your loan even after the due date Bank has the right to reach any local or international law enforcement or any other competent regulatory or governmental agency to have assistance in the prevention, investigation or prosecution of criminal activities and any type of fraud.
Terms & Conditions for Easypaisa Loan:
- Apply for Easypaisa if you’re 18 or older than this.
- Your all information used by the Bank on your consent and you’re authorized to provide that information.
- You confirm that your PIN (Personal Identification Number) kept confidential.
- You shall be liable for any misuse; Bank staff would never ask you to disclose your PIN.
- The Bank shall not become liable for any misuse of your Easypaisa account registered against your Identity card (CNIC) Number.
- Information provided to the Bank via USSD that includes, Father/Husband name, marital status, and occupation status are all right & accurate.
- All names provided are as per CNIC records.
- Any local or international law enforcement or competent regulatory or governmental agency to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud.
How to apply for Easypaisa Loan?
- No documents required.
- Just spend your 5 Minutes.
- Dial *786*7# from your mobile phone.
- If Telenor finds you ineligible, Telenor will reject you, and a message you’ll receive for an apology with information about why you failed.
- Bank will not be required to provide you reasons why you’ve been approved and rejected.
- If after dialing the code you’re approved, you will receive a brief text/message with the details of your loan amount taken, services fee, due date, interest fee, and late repay penalty charges.
- After getting this text, Telenor enables you to either accept or decline the loan offer from Telenor Microfinance Bank.
- Then, Provide your father’s or Husband’s name, marital status, and job status.
- Finally, you have got the loan directly into your Easypaisa Mobile Account.
How to repay the Telenor Easypaisa Loan Amount?
- You don’t need to go to any bank or use any other way to repay. Telenor will deduct the loan amount automatically from your account.
- If your account has less amount than the amount you borrowed, any additional amount deposited in your account Telenor easypaisa loan service has the right to deduct easypaisa loan amount automatically.
- You may choose the option of repayment on the loan menu and repay the loan when you want.
How Non-Telenor subscribers/users can avail Telenor Easypaisa Loan?
Are you a Non-Telenor Subscriber and want a loan? Don’t worry! Non-Telenor users are firstly required to buy a Telenor Sim Card (Number) then create an account and subscribe to the loan offer.
Non-Telenor subscribers can send a single text ‘EP<space>CNIC number’ to 0345-111-3737.
Moreover, if you’re already Telenor user but not a subscriber, then you need to subscribe to the loan and then apply.