A comprehensive professional guide to Equity Bank Accounts in Kenya. Learn about requirements, features, benefits, account types, charges, mobile banking, interest rates, loans and step-by-step account opening procedures. Updated for 2025.
EQUITY BANK ACCOUNT IN KENYA — A FULL, PROFESSIONAL GUIDE FOR 2025
Equity Bank remains one of the most influential and customer-centric financial institutions in Kenya. Over the years, it has expanded significantly, driven by technological innovation, accessible banking services, and a strong focus on financial inclusion. This detailed guide offers an in-depth look into Equity Bank accounts—covering account types, requirements, features, charges, mobile banking, online banking, digital onboarding, interest rates, and account management options.
Whether you are a student, professional, business owner, corporate entity, or an investor, this article equips you with authoritative knowledge designed to help you choose the ideal Equity Bank account for your financial needs.
Why Equity Bank Leads in Account Accessibility and Digital Banking
Equity Bank has consistently set benchmarks in the Kenyan banking sector through:
- Extensive branch and agent network
- Secure, reliable mobile banking
- User-focused digital innovations
- Affordable charges and transparent pricing
- Quick loan access for eligible customers
- Advanced security systems
- Efficient service delivery through Eazzy Banking
Equity’s financial infrastructure supports millions of customers daily, making its accounts among the most preferred in Kenya.
Types of Equity Bank Accounts (Complete & Updated for 2025)
Equity Bank offers a wide variety of accounts tailored for different customer needs. Below is a detailed breakdown.
1. Equity Current Account
A corporate-class account built for individuals, professionals, SMEs, companies, and high-volume users requiring flexible transaction limits.
Key Features
- Unlimited deposits
- Cheque books available
- Overdraft facilities
- ATM and debit cards
- Swift local and international transfers
- Business-friendly transactional structure
Ideal For:
- Businesses and SMEs
- Corporate clients
- Contractors and consultants
- High-income earners
- Organisations handling frequent payments
2. Equity Bank Savings Accounts
Equity offers multiple high-interest savings solutions, each designed for specific savings goals.
Equity Ordinary Savings Account
A standard, flexible savings account for everyday use.
Equity Junior Member Account (Children)
A savings account for children under 18.
Equity Call Deposit Account
Allows customers to deposit funds and withdraw with notice.
Equity Fixed Deposit Account
A secure, fixed-term deposit account offering higher interest.
Equity Diaspora Savings Account
For Kenyans abroad seeking local banking access.
3. Equity Student Account
A low-maintenance account for students aged 18–24.
Benefits
- Affordable banking
- Free deposits
- Mobile banking enabled
- Debit card available
- No complex requirements
4. Equity Diaspora Account
This is designed for Kenyans working abroad who want to conduct financial activities back home securely and conveniently.
Key features include:
- Multi-currency support
- International transfers
- Investment advisory
- Mobile banking
5. Equity Eazzy Youth Account
A modern account targeting young adults, integrating mobile-first banking solutions.
Equity Bank Account Requirements (2025 Updated Standards)
To open an Equity Bank account, customers generally need:
- National ID or Passport
- KRA PIN
- Passport-size photo (can be taken at the branch)
- Proof of residence or utility bill (for some accounts)
- Minimum opening balance depending on account type
For minors:
- Birth certificate
- Parent/guardian’s ID
Diaspora clients may require additional verification documents.
How to Open an Equity Bank Account in Kenya (All Methods Explained)
Equity provides several onboarding channels for customer convenience.
1. Opening an Account at a Branch
Steps include:
- Visit any Equity Bank branch
- Present your identification documents
- Select your preferred account type
- Complete the application form
- Deposit the minimum opening amount
- Receive your account details and debit card issuance instructions
2. Opening via Equity Mobile App (Eazzy Banking App)
This is one of the fastest methods.
Steps:
- Download the Eazzy Banking App from Play Store or App Store
- Select “Open a New Account”
- Enter your personal details
- Upload your ID and take a selfie for verification
- Complete e-KYC verification
- Your account is generated instantly
3. Opening via 247# USSD
For customers without smartphones.
Steps:
- Dial *247# on your phone
- Navigate to “Open Account”
- Follow the guided prompts
- Confirm your identity and PIN creation
- Account becomes active immediately
Equity Bank Charges and Fees (General Overview)
Equity Bank charges depend on the specific account type. Common charge categories include:
- ATM withdrawal charges
- Monthly maintenance fees (primarily for current accounts)
- EFT/RTGS transfer fees
- Agent withdrawal fees
- Debit card issuance fees
- International transaction fees
- Foreign currency conversion charges
Equity’s savings accounts generally have lower charges compared to current accounts.
Equity Mobile Banking (Eazzy Banking) — Complete Guide
Equity’s mobile banking system is one of the most advanced in East Africa.
Functions Available on Eazzy Banking:
- Balance inquiry
- Statement generation
- Fund transfers
- Bill payments
- Airtime purchase
- Loan applications
- ATM card services
- Transaction monitoring
- Merchant payments
- Forex services
Equity Bank Online Banking (EazzyNet)
Equity’s online banking platform offers enhanced security and convenience.
Key features:
- Real-time account management
- Domestic and international transfers
- Scheduled payments
- E-statements
- Forex exchange
- Loan repayment and balance inquiry
Registration can be completed through a branch or the online portal.
Equity Bank Loans Accessible Through an Account
Customers with an active Equity account can access:
- Eazzy Loans
- Salary Advance
- Business Loans
- Personal Loans
- Micro-Loans
- Overdrafts
- Credit Cards
- Mobile loans through the app or USSD
Loan limits scale based on account activity, income, and credit score.
Benefits of Holding an Equity Bank Account
Equity Bank accounts offer numerous advantages, including:
✔ Comprehensive branch and agent coverage
✔ Seamless digital banking
✔ Strong data security infrastructure
✔ Efficient onboarding and customer service
✔ Competitive interest rates for savings
✔ Reliable mobile banking
✔ Affordable service fees
✔ Flexible business and personal financial solutions
✔ Real-time account updates
✔ Global accessibility via diaspora accounts
Depositing Money Into Your Equity Bank Account
Customers can deposit funds through:
- Equity Bank branches
- Equity agents
- KCB to Equity transfers
- MPesa Paybill 247247
- Eazzy Banking App
- EFT and RTGS
- Cash deposit machines
- Cheque deposits
How to Withdraw Money From Equity Bank
Withdrawal channels include:
- Equity ATMs
- Equity agents
- Eazzy Banking App
- MPesa
- Branch counters
- Visa-enabled ATMs locally and internationally
Equity Pay – Modern Cashless Payments
Equity Pay supports:
- QR payments
- Digital merchant payments
- E-commerce checkouts
- Secure business transactions
It is designed to promote transparency, safety, and speed in digital payments.
Equity Bank Account FAQs (SEO Structured)
1. How do I open an Equity account without visiting a branch?
Use the Eazzy Banking App or dial *247#.
2. Does Equity offer instant loans?
Yes, through Eazzy Banking loans depending on eligibility.
3. What is Equity’s MPesa Paybill number?
4. Can I access Equity services abroad?
Yes—especially through the Diaspora Account and mobile banking.
