Equity Bank clarifies how customers can secure loans using land title deeds
Equity Bank Kenya has explained how customers can use land title deeds and other property documents to secure loans, saying applicants must first undergo an assessment by the lender’s credit team. The clarification followed an inquiry by a customer, Zachary Munyi, who asked the bank whether borrowers could use their property title deeds as security […]
Equity Bank Kenya has provided clarification on how customers can secure loans using land title deeds and other property documents. The lender confirmed that applicants must undergo an assessment by the credit team to determine eligibility and the loan amount that can be granted against the security of the property. While the bank did not disclose specific details such as the minimum or maximum loan amounts, interest rates, or repayment periods, it advised customers to visit their nearest branch for further assistance with the application process.
This clarification follows inquiries from customers, such as Zachary Munyi, who asked about the possibility of using property title deeds as collateral for loans. The bank's response emphasizes that ownership documents will be evaluated before the credit team decides on an applicant's eligibility and the loan amount. This development comes amid other recent clarifications from Equity Bank regarding customer concerns, including the discontinuation of sender-side transaction confirmation SMS messages and allegations of staff misconduct in fraudulent activities.
Brief written by urgent.news from People Daily Kenya's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
