Consumer Loans



Consumer Loans

Salary advance

The loan is advanced up to four (4) times the average monthly net salary to help the salaried customers meet emergency needs. It is a facility afforded to salaried employed for securing small amounts of short-term credit to finance emergency needs.





Automatic debits from customers accounts for repayments (on instruction), no need to travel to the bank and queue.

All salaried customers whose salaries are channeled through Equity Bank

Interest rate of 2% flat per month


No security requirements up to Tshs 2,000,000

Identification document e.g. voting card, passport, driving license, working ID supported by introduction letter from the employer. (Original & Photocopy)

LACE at 3%



It is Fast: Quick loan processing and disbursement

Salary must be remitted through the account for 3 months consecutively and avail the pay slips


 Loan insurance against death and disability.

A letter from employer committing to remit salary to Equity Bank as long as the loan is outstanding.


Advance of up to 4 times the customer’s salary which is higher than most competing products e.g. from Sacco’s




Equi-loans (Check-off)

A loan facility available to salaried customers (Civil servants & vetted private companies) through a check-off system.





Convenient facility for salaried employees to secure term loans for financing personal needs

Equity Bank customer who must be confirmed and in permanent employment

Interest rate of 16-25% reducing per annum.


No security required

Pay slips for the last 3 months, identification document e.g. passport, voting card, driving  license

LACE at 2%-3%



Quick loan processing and disbursement within 48hrs

All employees (Public and Private Institutions),we also allow buy offs from other financial Institutions


Repayments deducted from source through check-off arrangement with employer, no need to queue

Working doc, ID supported by introduction letter from the employer (Original & Photocopy)


Maximum amount depends on ability to repay.




Personal Development Loan

Personal development loan is a medium term loan granted to salaried customers for purchase of capital assets mainly motor vehicles, purchase of land and development of land with title deed.





Maximum loan amounts depends on ability to pay and security

Must have operated an account with Equity Bank for at least 3 months

Interest rate of 20% reducing per annum


Loan repayment period of 36 months for purchase of motor vehicle

Equity Bank customer who must be confirmed and in permanent employment

LACE at 2%



Loan repayment period of 48 months for purchase and development of plot



Security will be the purchased asset



Minimum contribution  of 20%




 TOD (Temporary Overdraft)

A facility given to customers whose remittances pass through the account. It is salary or constant remittance based. It is recovered in the next pay period or remittance




Immediate access to short term credit

Must have operated an account with Equity Bank for at least 3 months


10% commission on the principal amount or a minimum of Tshs. 5,000


No security requirements  – based on remittance


24% interest on overdue amount for overdue period


Same day processing and disbursement



Up to 30% of monthly average remittance, maximum Tshs. 500,000




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