Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
No Result
View All Result
Equity Bank Lowers Lending Interest Rate To 13.5%

Equity Bank's New Lending Interest Rates

Equity Bank Lowers Lending Interest Rate To 13.5%

Elsie Ndonga by Elsie Ndonga
23 March 2018
in Brands, Business, Kenya, News
Reading Time: 2 mins read
129 9
0
166
SHARES
923
VIEWS
FacebookTwitterWhatsApp

Following a directive by the Central Bank of Kenya, Equity Bank has issued a notice to its customers announcing new lending interest rates. The directive caused the bank to lower their lending rates from 14% which had been there since 2016 to 13.5%. The rates will also include Micro, mobile loans and credit card facilities such as Eazzy loan and Eazzy Plus Loan.

    Equity Bank’s New Lending Interest Rates

    In 2016 September, The Central Bank of Kenya issued a directive lowering the interest rates to 14%. Equity customers will now be able to borrow at a lower interest rate for all the mentioned services. The new Central bank Rate (CBR) is 9.5 %, then you add 4% which brings the maximum interest on loans to 13.5%. This is because the law allows banks to cap their interest rates just 4% above the Central Bank of Kenya.

    The statement issued by Central Bank of Kenya applies to all loans through mobile phones or through other third-party platforms or collaborations with Mobile Network Operators (MNOs), credit card facilities as well as microfinance loans.

    The directive applies to any facility provided by an institution that falls under the Banking Act. The new lending rates will apply effective from Tuesday 20th March 2018. This new interest rate is in line with the Bank’s commitment to providing innovative affordable and convenient financial solutions that will continue to expand customer opportunities. The move will also help existing borrowers since they can save on their interest payments.

    Equity Bank Money Transfers Allow You To Receive & Send Money Conveniently

    Share66Tweet42SendShare12Pin15
    Previous Post

    I Love Playing The Bad Guy But Such Roles Also Come With Their Challenges – Actor Blessing Lughaho

    Next Post

    5 Common Mistakes Job Seekers Make And How To Avoid Them

    Elsie Ndonga

    Elsie Ndonga

    The power of the written word fascinates me. It abides- cannot be forgotten. I write in the hopes that I can document the stories of everyone I meet and everything that I see.

    Next Post
    5 Common Mistakes Job Seekers Make And How To Avoid Them

    5 Common Mistakes Job Seekers Make And How To Avoid Them

    Please login to join discussion

    Recommended

    The Singlehood Series: He Got A Call From His Ex And They Reconciled While We Were On Date

    Martin’s Addiction To Social Media Pushed His Girlfriend Away

    24 February 2023
    0
    He Found Out His Kids Weren’t Biologically His After A Tragedy

    He Found Out His Kids Weren’t Biologically His After A Tragedy

    14 August 2022
    888

    Popular Stories

    • We Met At A Funeral, And For A While, Grief Felt Just Like Love

      We Met At A Funeral, And For A While, Grief Felt Just Like Love

      4 shares
      Share 1 Tweet 1
    • Opinion: On Men Leaving Their First ‘Struggle’ Wives After Becoming Successful

      620 shares
      Share 248 Tweet 155
    • The Singlehood Series: I Left Her After She Met My Parents Because Some Red Flags Became Visible During The Visit

      4 shares
      Share 1 Tweet 1
    • The Man She Loved Turned Out To Be A Monster

      5 shares
      Share 1 Tweet 1
    • The Singlehood Series: My Gym Trainer Keeps Flirting With Me And Now People Think He Is My Boyfriend

      59 shares
      Share 23 Tweet 15

    Potentash Blog

    Potentash is an award-winning lifestyle blog. We publish lifestyle content that intersects with health, women, beauty, travel, business, relationships, finances and entertainment.

    Explore

    • The Singlehood Series
    • From Stairs To Ramps
    • Man Around Nairobi
    • Pearls And Heels
    • Personal Finance
    • Food + Beverage
    • Editor’s Pick
    • Reviews

    Get the Potentash Newsletter

    • Newsletter Archive
    • Subscribe
    • Frequently Asked Questions
    • Privacy Policy
    • Contact Us

    Copyright © 2023. Potentash, In Partnership with Decima

    Welcome Back!

    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    • Login
    No Result
    View All Result
    • Relationships
      • The Singlehood Series
      • Dating
      • Sex
      • Parenting
    • Lifestyle
      • Home
      • Food + Beverage
      • Fashion
      • Interviews
    • Stories
      • The Singlehood Series
      • Fiction
      • Poetry
    • Skin + Beauty
      • Skin
        • Skincare
      • Hair
        • Haircare
    • Wellness
      • Physical Health
      • Emotional Wellness
      • Mental Wellness
      • Social Wellness
      • Spiritual Wellness
    • Business
      • Business Finance
      • Personal Finance
      • Entrepreneurship
      • Investments
      • Personal Investments
    • Entertainment
      • Internet
      • Events
      • Music
      • Books

    Copyright © 2023. Potentash, In Partnership with Decima