Below is an official statement released by Equity Bank of Kenya on its New-Revised Interest rates for Loans and Saving Deposits after the passing of a bill capping interest rates in Kenya.
Revised interest Rates Equity Bank Statement
Effective 20th March, 2018 In line with the Central Bank of Kenya guidelines, we have adjusted our interest rates to reflect the new Central Bank Rate (CBR) of 9.5%.
Maximum Interest on Loans: CBR 9.5% + 4% =13.5%
- All new and existing loans (including Micro-Finance and Mobile) and all Credit Cards.
Minimum Interest on Saving Deposits: 70% of CBR 9.5% = 6.65%
- Eazzy Save Account, Junior Member Account, Teen Member Account, Achievers Student Account, Jijenge Account, School Fees Account and Term Deposit Account.
Equity Bank Contact Details
- Email: info@equitybank.co.ke
- Website: www.ke.equitybankgroup.com
- Mobile Number: 0763063000
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how is interest rate in a year when you have opened fixed account