Equity Bank has introduced a new way to instantly access loans for parents and guardians, especially with the four school terms this year. Parents and guardians can simply dial *247# from Equity to apply and receive instant loans as low as Ksh. 100 up to Ksh. 3 million.
This service is currently available on all mobile networks including Safaricom, Telkom, Airtel and Equitel and can be accessed on both smartphones and feature phones (Kabambe). Instant Loans do not require users to fill out or complete any physical forms, look for guarantors, collateral or guarantees. The loan facility is also available on the Equity mobile app available on Google Play Store, App Store and Equity Online.
Parents and guardians can also purchase a bank check at only Ksh. 100 for tuition fees whether for primary, secondary, college or university. This will allow them to deposit fees for free at any Equity branch or agent near them. The student’s details will also be entered on the deposit slip at the branch or agent.
Back-to-school purchases are also made easier thanks to the Bank’s various payment options. You can pay for your back to school purchases via *247#, the Equity mobile app, Equitel or your Equity Visa, Mastercard and Amex cards at the touch of a button.
For entrepreneurs and business people, just *247# is enough to borrow the amount you need to boost your business. The service also allows parents, guardians and SMEs to check their loan limit, loan status or loan balance as well as make partial or full repayments of your loans.