Equiloan: How Salaried Employees Can Tap Into Equity Bank’s Loan Lifeline

If you’re a salaried employee in Kenya, especially a teacher under the Teachers Service Commission (TSC), Equity Bank has a loan product tailored just for you — Equiloan. Whether you’re eyeing a personal project, need a financial boost before payday, or are looking for a long-term loan with flexible terms, Equiloan offers just the right package.

Let’s break it down for you:

What is Equiloan by Equity Bank?

Equiloan is a suite of loan options specifically designed for salaried employees. The goal is to provide accessible, flexible, and affordable financing that helps you meet personal or emergency needs without the stress of rigid repayment terms.

Types of Equiloan Products

1. Personal Loans

These are unsecured loans — no collateral needed. Perfect for home renovations, school fees, or that dream project you’ve put on hold. The amount and repayment terms depend on your income and credit history.

• No collateral required
• Flexible repayment terms
• Loan amount based on your income & credit score

2. Salary Advance Loans

Need a quick top-up before payday? A salary advance loan is ideal.

• Short-term borrowing
• Repayable within one month
• Low interest rate

3. Check-off Loans

Also known as salary deduction loans. Monthly repayments are directly deducted from your payslip — making it stress-free.

• Lower interest rates
• No late payment hassle
• Higher chances of approval for government employees

Special Focus: Equiloan for TSC Teachers

Equity Bank understands the financial needs of teachers. That’s why they’ve tailored the Equiloan product to specifically support TSC-employed educators.

Features of Equiloan for TSC Teachers

• Borrow up to KES 2 million
• Repayment period of up to 6 years
• No collateral required
• Funds can be used for personal development or investment projects

Requirements

To apply for this check-off loan, make sure you have:

• Filled Loan Application and Appraisal Forms (available at your local branch)
• 3 latest payslips (downloaded from the TSC Payslip Portal)
• 2 Authorization Forms
• 2 copies of your National ID
• 2 copies of your KRA PIN Certificate

How to Apply for Equiloan (TSC or Regular Salaried Employees)

1. Visit your nearest Equity Bank branch.
2. Request the application, appraisal, and authorization forms.
3. Fill out the forms and have them certified by your employer (Principal or TSC for teachers).
4. Attach all required documents.
5. Submit your application.
6. Await feedback — usually within 48 hours.

Loan Repayment & Considerations

Before committing to any loan:

• Understand the terms — interest rates, repayment period, and any hidden fees.
• Ensure your monthly budget allows for loan deductions.
• Keep your credit score healthy to boost approval chances.

Final Thoughts

Equiloan by Equity Bank offers a lifeline for salaried workers — especially teachers — who need financial support to grow, invest, or simply manage life’s unpredictable moments. With flexible repayment, no collateral, and fast processing, it’s a convenient and reliable option for anyone employed in the formal sector.