DIASPORA MORTGAGE

Features

• Fast loan processing

• Flexible repayment terms

Benefits

• The building is insured

• The building is capable of generating income via rental income

• Value added services such as negotiated legal fees, valuation services and competitive commitment and entry fees

• Investment advisory services

Repayment period

• Home purchase – up to 20 years

• Commercial property purchase – up to 10 years

CONSTRUCTION LOAN

Features

• Fast loan processing

• Flexible repayment terms

Benefits

• Value added services such as insurance cover, negotiated legal fees, valuation services and competitive commitment and entry fees

• Investment advisory services

Repayment period

• Home construction – up to 20 years

• Commercial property construction – up to 10 years

Personal Loans

Make your dreams come true – enjoy competitive rates and flexible terms on a loan for almost any purpose. Remodel your home, consolidate debt and more.

Auto Loans

Ready to buy that new car or truck you’ve had your eye on? We can help you finance your ride with competitive rates and flexible terms. Buy new, used or classic.

Home Equity Lines of Credit 

Use your hard-earned equity in your home to finance almost anything you want or need. Enjoy our competitive rates and personal attention from our loan experts.

Equity Reserve Line of Credit

Think of us as your understudy, your back-up, your #2. When life throws you a curveball, we’ll throw you a line of credit. Secure extra cash to use as a backup for your checking.

Credit Cards

Watch for new Credit Cards coming soon!

Equity Bank Loans

Below are different types of Equity Bank loans. Equity Bank is one of Kenya’s leading financial service providers whose headquarter is based in Nairobi.

The bank was started in 1984 and thereafter licensed under the Kenya Banking Act (Chapter 488).

Equity Bank sometimes back came up with different types of loan in order to the social economic welfare of their clients.

Today, we are going to share different types of Equity Bank loans one can apply for in case they are in dire need of funds.

Different Types of Equity Bank Loans

1. Eazzy Loan – It is given to members who have banked with Equity Bank for not less than 6 months and have an active EazzyApp or Equitel Line. The maximum amount of loan one can apply for is Ksh. 3 million and the repayment period is up to 12 months.

2. Development Loan – It is given to SMEs who want to finance the expansion of their business and also acquire business assets or properties. In order to be eligible for this type of loan, one needs to have an active account with Equity Bank.

3. Micro Business Loan – It is for empowering youths who want to grow their businesses. They should be between age (18-35 years) and have active accounts with Equity Bank.

4. Kilimo Biashara Loan – It is given to farmers who want to expand their farming business. The loan amount ranges between Ksh. 5,000 to Ksh. 100,000 and the repayment period plan is 1 year. Applicants need to have an active account with Equity Bank and should also demonstrate the ability to repay back the loan.

5. Trade Finance Loan – It is given to those who want to facilitate trade of goods and services, both locally and international. In order to qualify for trade finance loan, you need to have bank guarantees, Invoice discounting, import and export collection, LPO financing, letters of credit, pre-shipment financing and post-import financing.

6. Asset Finance Loan – It is given to Equity Bank members who want to invest in capital assets. Loan applicants are required to prove existence of other source of income that can be used to repay back the loan.

7. Merchandise Loan –

8. Fanikisha Dhahabu Loan – It is given to individual women who have flexible repayment period plan of up to two years. The loan amount ranges between Ksh. 500,000 to Ksh. 3,000,000 and interest rate is 1.25% per month reducing.

9. Fanikisha Almasi  Loan – It is given to individual women who can demonstrate the ability of paying it back. The loan repayment period plan is up to 36 months (3 years). The loan amount ranges between Ksh. 3,000,000 to Ksh. 10,000,000 and interest is 1.25% per month reducing.

10. Fanikisha Platini Loan – It is given to individual women who have flexible repayment period plan of up to five years. One can borrow up to Ksh. 10,000,000 and the interest rate is 1.25% per month.

Equity Bank Contacts

Tel: 0763 063 000

Email: info@equitybank.co.ke

I hope that this post about types of Equity Bank loans has been of great help to you.