Equity Bank’s Boostika facility is a convenient loan solution designed to help customers complete transactions even when running low on funds. Boostika allows Equity customers to send money, pay for goods and services, or buy airtime seamlessly, ensuring transactions are not interrupted due to insufficient funds. Here’s everything you need to know about using the Boostika facility.
What Is Boostika?
Boostika is a short-term, unsecured loan facility offered by Equity Bank that covers transaction deficits when using:
- *USSD (247#)
- Equitel SIM services
- Equity Mobile App
Customers are prompted with their Boostika limit whenever they are short of funds while:
- Sending money to mobile wallets or bank accounts.
- Paying for goods and services using One Equity Till numbers.
- Purchasing airtime.
Loan Amount: Between Kshs 100 and Kshs 100,000, depending on your loan limit.
Repayment Period: Up to 30 days.
Important Note: Boostika funds cannot be withdrawn. They are strictly for completing transactions.
How to Qualify for Boostika
To qualify for the Boostika facility, you must meet the following criteria:
- Equity Bank Customer: You must have an active account with Equity Bank.
- Active Usage: You must be sending money or making payments using *247#, Equitel, or the Equity Mobile App.
- Loan Limit: You must have an eligible Boostika loan limit.
- Account History: Your account must be active for at least six months.
- Good Credit Standing: You must have a positive repayment history.
Boostika Loan Charges
Boostika comes with the following fees and charges:
- Processing Fee (LACE): 5% of the transaction amount.
- Insurance Fee: 1%.
- Excise Duty: 20% of the LACE fee.
- Interest Rate: 18% per annum.
How to Use Boostika
Boostika can be accessed via the *USSD (247#) menu, the Equity Mobile App, or Equitel SIM services. Below is a detailed guide for each method.
*1. Using USSD (247#)
You can use the USSD code to pay bills or send money.
*(a) How to Pay Bills Using 247#
- Dial
*247#on your phone. - Select Paybill.
- Choose the account to pay from.
- Enter the business number.
- Enter the account number.
- Enter your PIN.
- Your Boostika limit will be displayed.
- Confirm any additional funds required.
- Accept and complete the transaction.
*(b) How to Send Money Using 247#
- Dial
*247#. - Select Send Money.
- Choose the account to pay from.
- Select the recipient’s account.
- Enter the recipient’s account number.
- Input the amount to send.
- Enter your PIN.
- Your Boostika limit will be displayed.
- Confirm any additional funds required.
- Accept and complete the transaction.
2. Using the Equity Mobile App
The app is a convenient way to access Boostika for paying bills or sending money.
(a) How to Pay Bills Using the Mobile App
- Log in to the Equity Mobile App.
- Select Paybill.
- Choose the account to pay from.
- Enter the business number and account number.
- Enter your PIN.
- Your Boostika limit will be displayed.
- Confirm any additional funds required.
- Accept and complete the transaction.
(b) How to Send Money Using the Mobile App
- Log in to the Equity Mobile App.
- Select Send Money.
- Choose the account to pay from.
- Enter the recipient’s account number and amount.
- Enter your PIN.
- Your Boostika limit will be displayed.
- Confirm any additional funds required.
- Accept and complete the transaction.
3. Using Equitel (STK Menu)
Equitel users can also access Boostika for payments and transfers.
(a) How to Pay Bills Using Equitel
- Open the Equitel STK menu on your phone.
- Select Paybill.
- Choose the account to pay from.
- Enter the business number and account number.
- Enter your PIN.
- Your Boostika limit will be displayed.
- Confirm any additional funds required.
- Accept and complete the transaction.
(b) How to Send Money Using Equitel
- Open the Equitel STK menu.
- Select Send Money.
- Choose the account to pay from.
- Enter the recipient’s account number and amount.
- Enter your PIN.
- Your Boostika limit will be displayed.
- Confirm any additional funds required.
- Accept and complete the transaction.
Equity Bank Contact Information
For inquiries, assistance, or feedback, reach out to Equity Bank through the following channels:
- Phone: +254 763 000 000
- Email: [email protected]
Conclusion
Equity Bank Boostika is a lifesaver for completing transactions when funds are insufficient. With its flexibility and ease of access through USSD, the Equity Mobile App, and Equitel, it ensures a seamless experience for customers. By adhering to the simple qualification requirements and understanding the associated charges, you can make the most of this facility to meet your transactional needs conveniently.
