An In-Depth Review of Equity Bank

An insightful review of Equity bank Kenya.Find out what makes the bank a leading financial institution, their offers and anything else you might need.
Equity Bank Review

Equity bank is one of the largest banks in East and Central Africa. It is a part of the Equity Holding company. Also, the bank has several branches all over Kenya and neighboring countries.

Equity bank started its journey in 1984. Currently, the bank has over 1.1(10.1B) trillion in assets with customer base of 14 million within the six great lakes nations.

Equity bank has been growing and expanding rapidly. EGHL is the only bank that issues Visa cards in the rest of Africa outside South Africa.

Equity Bank Kenya’s CEO Dr. James Mwangi, oversees the running of the bank. Isaac Macharia is the group chairman, and there are seven other board members.

How many branches does an equity bank have?

Currently, Equity Bank has 483 branches in and out of Kenya. The branches may increase with their extensions to many areas.

In addition, the recent lifting of trade restrictions in Ethiopia gives the bank more room for growth.

Equity bank Nairobi branches are 52 in total to serve the large population in the city. They have a branch nearly in every large neighborhood in the city.

Other than branches, they have more agencies to perform simple transactions like withdrawals and statements.

Equity bank loans

Equity Equity Bank Kenya loans are accessible to individuals, businesses, and groups as long as they meet the terms and conditions.

Some loans match income and spending. People with a paycheck and a good credit score can access most loans.

There are investment loans for buying plots and cars. Additionally, Equity bank offers home loans.

Businesses, groups, and corporations can also acquire credit and financing services. With a solid income stream and some amount of savings

Other smaller loans include development loans, mobile loans, and salary advances. Members can apply for an Eazzy loan online or through the mobile app.

The Equity bank loan calculator determines how much credit an entity or individual can get. They also check how active your account has been and the transactions.

Equity bank Accounts

Equity bank offers different accounts for individuals, institutions, corporations, and groups. Here are some of the most prominent account types.

Ordinary account

Members who want to open an ordinary account can enjoy many perks. There are no maintenance and ledger fees. Members can also access their accounts from other member countries.

Lastly, members enjoy mobile and online banking opt-in services and can acquire a master or visa card upon request.

School Fees collection

The account is for school fees collections. Equity partners with institutions of higher learning.

Investment account

The investment account is electronic, and it hosts your shares. The account is suitable for all stocks and shares in the NSE. With the account, you can consolidate all your assets in one place.

Additionally, the account owners can access services in all branches. They also get updates, dividends, rights, interests, and bonuses on one account.

Current account

A current account is ideal for individuals, registered entities, and groups. Some of its perks include no fees for ledger and maintenance. They accept check and cash deposits and multi-currencies.

The currencies are Euro, GBP, KSH, and USD. Additionally, users can access overdraft and can use mobile and internet banking. With this account type, members can apply for a Visa or MasterCard.

Interest rates

Equity bank loans attract an interest rate of 13%. The CBR is at 10% currently.

Equity bank online

Equity bank is available online for internet banking. When setting up, the user must first visit the bank for assistance. You can also download the Equity bank app Eazzy Net to access banking services.

The online platform and mobile app have made self-service easier. 

Equity bank contacts

Equity bank customer care number is +254763 063 000/763 000. You can contact equity bank via email at

Equity bank codes

The Equity bank code is “68”.

The equity bank swift code is EQBLKENA. The other swift code equity bank is EQBLKENAXXX.

Equity bank and M-Pesa

You can access your Equity bank account through their sim card, equitel. While it operates like other sim cards, it is attached to all your Equity bank accounts.

Members can send money from their account on equitel to the M-Pesa. Agents offer withdrawal services with equitel.

Members can send money from Mpesa to their equity accounts.

The equity bank paybill number is 247247. Members can send money from Mpesa to their equity accounts.

Follow these steps to deposit money from Mpesa to your account.

  • Go to Lipa na Mpesa
  • Enter the paybill
  • Enter your account number
  • The amount you want to send
  • Mpesa pin                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

What Equity Bank lacks

Since Equity is the leading bank in Kenya, you would expect better services and customer care. Yet, the equity bank customer care sometimes takes ages.

Another annoying factor about customer care is using your airtime to call them. It can take more than 10 minutes before your call goes through which is infuriating.

Low-interest rates for deposits. While the bank makes a lot of profit, their customers do not enjoy better rates when they save money.

Also, the repayment rates are high leading to many poor Kenyans getting trapped in debt for years.

Fraud has also been an issue for many customers. Not once have customers complained about losing their money from their equity bank of Kenya accounts.

Other complaints are high transactional charges and incorrect amounts.

What Equity bank of Kenya has above the rest?

Equity bank has the biggest client base in Kenya and East Africa. It has been able to expand rapidly and make more profits. It is also one of the first few banks to hit 1 trillion in the region.

Equity is widespread all over Africa. Through their services, customers can access and send money to many neighboring countries. It is also compatible with modern internet banking systems like PayPal.

Equity bank self-service has allowed most customers to avoid long banking queues. The online platforms are easy to operate, allowing most customers to bank conveniently.

Equity bank is one of the most accessible banks with several branches in and out of Kenya. They also have many withdrawal points and agents. It makes them a great choice for anyone.

By building trust and understanding their market, they have been able to help most communities grow. They have products for farmers, small businesses, and established businesses looking to expand outside the region.

Equity bank stands out with its giving-back initiatives. The equity bank mentorship, and the wings to fly programs, have been helping many poor Kenyans. It is also a big employer in the region. You can check out job vacancies on Equity bank careers.

The good

  • Accessible banking services
  • High-quality services
  • Broad banking options to meet almost every need
  • Great products for individuals, groups, and corporates

The bad

  • Poor customer care services
  • Long queues at branches

The ugly

  • Loss of money stored in accounts.
  • High lending rates


Equity bank is a leading bank in East and Central Africa. With every new accomplishment, the bank has proven resilient. A few issues mentioned need a lasting solution to earn complete trust.