Following the Central Bank’s Monetary Policy Committee meeting which lowered the base lending rate to 9.5%. Equity Bank has announced that they will be lowering the interest rate charged on their loans to a maximum of 13.5% with immediate effect.
This reduction in the interest rates will affect all loans issued by the bank including micro loans, mobile loans as well as credit cards. This will affect all new and existing loans so if you already have a loan, this is a cause to celebrate.
