Equitel increases loan limits through mobile product

Equity Bank has launched a new product that will allow subscribers access higher loan amounts that are payable over a longer period through the Equitel mobile platform. Equitel has launched the ‘Eazzy Plus Loan’ where customers can now borrow up to Sh3 million which is payable within 12 months.

Previously users could borrow up to Sh200,000 repayable in 30 days. “We believe that in the next few years Equitel will do five more times the number of transactions than all other channels put together,” said Equity Group Holdings Chief Executive Officer James Mwangi at the group’s Annual General Meeting (AGM) that was held in Nairobi on Thursday.