List of Equity Bank Loans in 2022

This blog will provide you with a list of Kenyan Equity Bank loans.

A bank’s function includes providing financial help to consumers. By offering loans, Equity Bank has been at the forefront of this. Many consumers have met their immediate financial demands thanks to these loans.

Equity Bank first opened for business in 1984. Since then, the bank has expanded to become the region’s largest customer base. Customer loyalty is boosted by the low-interest rates paid on loans.

Equity Bank, like other banks, offers a variety of lending options to its customers. The type of loan that one may obtain is based on various requirements. These factors include work status and the loan’s purpose.

This article offers a list of various Equity Bank loans. It also contains a brief overview of what the loan covers and the loan’s perks.

Types of Equity Bank Loans.

The following are the different types of equity bank loans. Different loans are available in these categories based on the consumers’ criteria.

Personal Loans

These are loans that you apply for to meet your requirements. Your capacity to repay the loan determines your eligibility for this loan. The following are examples of personal loans.

  • Equiloan

This loan is available to salaried staff for personal development. Employees that need to purchase assets are frequently offered credit.

  • Salary Increase

Customers are provided a short-term loan based on the bank’s financial data. Offers its customers credit to assist them in fulfilling their immediate financial demands.

Consumers can get a salary advance loan for up to 12 months. Only people with a monthly wage are eligible for this loan.

  • Eazzy Loans

Equity Bank loans are offered through the Eazzy Banking app. You’ll need to download the Eazzy Banking app from the Google Play store to get these loans.

You’ll need to download the Eazzy Banking app from the Google Play store to get these loans.

Merchandise Loans.

These are loans offered to clients to help them better their living conditions. The following credits are included in the Merchandise category:

The following credits are included in the Merchandise category:

  • Maji Loan

This is a loan granted to clients that require water service. The financing will acquire water tanks, water pumps, and water supply connections. The loan also covers a borehole and good shallow drilling.

  • Jamii Safi Loan

Customers can use this loan to build pit latrines and other hygienic products. One will use the money to eradicate illnesses caused by poor hygiene, such as Cholera. This loan also covers the expenditures of sewage hookups.

Equity Bank has also teamed with organizations like Victoria Courts and GoTV under Merchandise loans to make such services more accessible to clients.

Home Equity Loans

Mortgage loans are loans granted to those who wish to buy a house or a piece of real estate. Before applying for a mortgage loan, you should thoroughly understand the loan. Your capacity to repay is one of the most important variables to consider.

Mortgage loans can also be used to restore or improve existing residences. Many families can now afford decent housing thanks to these loans.

Car Loans

Customers may get auto loans from Equity Bank at low-interest rates and favorable terms.

Thanks to Equity Bank, many Kenyans have realized their aspirations of buying vehicles and paying for them later. Through collaborations with car dealership firms, the bank has also made it simple to obtain suitable automobiles at reasonable costs.

Through collaborations with car dealership firms, the bank has also made it simple to obtain suitable automobiles at reasonable costs.

Unsecured Loans

These are loans that are made without the use of any collateral. Signature Loans are another name for them. Equity Bank Kenya Loans provides unsecured loans to customers based on their credit scores.

Customers’ capacity to repay the loan from their income impacts whether or not they qualify for a loan in most circumstances. This loan is for clients who want financial assistance but lack the requisite assets to provide security.

Conclusion

The amount of interest imposed on loans from equity is determined by the type of loan and the loan length. The bank advises the customer on the right sort of loan to meet the requirement, based on the customer’s interests.

To apply for any of the loans above, you must first visit an Equity Bank branch or agent and open an account. You don’t need an Equity Bank account to use Eazzy Loans because the app generates a virtual account.

Simon Mwangi
Simon Mwangi
As a freelance writer with a background in banking and accounting, Simon has the financial know-how to produce quality content on various topics. His experience gives him a strong foundation in understanding complex financial concepts and communicating them in an easy-to-understand way. Follow him on Linkedin

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