Equity bank customers to access loans via mobile devices

NAIROBI, Kenya, March 4-Equity bank customers will now be able to access loans worth up to Sh3million through their mobile devices.

Through this service, customers will not be required to visit bank branches, fill in any physical forms or present any collateral when applying for the loans.

The move is part of the enhanced USSD service which is now accessible to customers across all the mobile networks in Kenya.

 This development follows increased demand for digital services among bank customers.

A recent industry survey by the Kenya Bankers Association indicated that more than 68 per cent of bank account holders prefer accessing banking services through mobile devices and other digital channels like internet banking.