Equity Bank Kenya Limited Equiloan Personal Loan Details

Rates available from as of 1st April 2021
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Equity Bank Kenya Limited

Total Cost
annualised, year one
Typically approved within
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* Processing Fees and Excise duty are only applied to year one. For loans longer than one year, your annual cost from year two onwards will be between 11.0% - 13.63%.

Loan Fees:

  • Interest Minimum: 11%
  • Interest Maximum: 13%
  • Processing fee: 5%
  • Insurance Fee: 0.63%
  • Withdrawal Fee: None
  • Late Fees: 5% Flat
  • Other Fees: 20% Excise Duty

Disbursement Details:

  • Institution Type: Commercial Bank
  • Application Method: Paperwork
  • Disbursement Method: Bank Account

Repayment Details:

  • Repayment Frequency: Monthly
  • Early Repayment: Allowed
  • Repayment Method: Check-off

Eligibility Requirement:

  • Smartphone: Not Required
  • CRB: Must be in good Standing
  • Income: No Minimum
  • Employment: Required
  • Network: Not Required
  • History: Not Required


  • 3 Certified pay-slips
  • National ID
  • KRA Pin
  • Letter of Appointment
  • Application form filled and signed by borrower and employer

Money254 Review


  • Check off loan
  • High loan limit up-to 5 Million (subject to T&Cs)
  • Insurance cover against death and permanent disability (deducted from loan Amount)


  • Only for employees whose employers with a partnership with the bank
  • High processing fees (5%)
  • Relatively high Late fees (5%)

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How to Apply Equity Bank Equiloan, Repayment, Fees & Contacts

Equiloan is tailored to the salaried person who is looking to get funding for developmental projects or acquisition of assets. It is advanced to customers whose employers have signed an MoU with Equity Bank.

Who is eligible for Equity Bank Equiloan?

Loan Limits and Interest Rates

How to Apply for Your First Equity Bank Equiloan Loan

How to Make Equity Bank Equiloan Loan Repayments


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