Equitel loans to attract new 5pc processing fee
2 months ago, 16 Jan 09:19
Equity Bank has introduced a five per cent processing fee on its Equitel loans, as it seeks to buttress income that has taken a hit from interest rate capping and slow credit growth. The flat fee silently introduced nearly two months ago, puts Equity at par with other banks operating mobile lending products KCB and CBA, in collecting an upfront commission before charging interest on the loan. Equity Bank has also effected a money transfer commission on its mobile App, Eazzyapp, a product which u ...
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