Equity Bank Kenya Limited Equiloan Personal Loan: Product Details & How to Apply

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

Easy Apply
Ksh100k - 5M
6 months - 6 years
Interest Rate
11% - 13% annualised
Total Cost Including Institution's Other Fees
18% - 20% annualised, year one
Typically approved within 5 days
visit website
Easy Apply

Loan Type

Check Off Loans

* 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%.

Total Cost Breakdown (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
  • T&C Links

How to Apply

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%)

See more Personal Loans available in Kenya on Money254

From short-term app loans to long-term bank loans, we have aggregated all of the unsecured Personal Loans from Kenya's top financial institutions.

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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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