School Development Loan

This is a facility granted to schools utilized for working capital and short-term urgent needs etc.

Loan amount of Ksh 1,000,001 - Ksh 200,000,000, depending on the customers’ needs and credit limit
Repayment period of 1-36 months depending on the customer’s profile
Equity Bank Reference Rate (EBRR) + margin, based on the customer’s risk, with LACE of up to 3%, Excise duty of 20% of LACE
Insurance fee: 0.675% but an exposure of more than Ksh: 5 M subjected to medical checkup

Active Equity account
KYC Documentation
Copy of Logbook – For loans secured by logbooks
Valuation Report – For logbook-secured loans
Title Deed Copies and Valuation Report – Required upon approval
Financial Statements
Other Supporting Documents – As applicable
Current CRB Reports
Call Report – For site visits and additional verification
Additional Documents – Depending on the borrower’s loan purpose
Board minutes & county education office consent for public institutions, student population records.

Charges
- Interest rate: Equity Bank Reference Rate (EBRR) + margin, based on the customer’s risk
- One off fee up to 3%
- Insurance fee: 0.675% but an exposure of more than Ksh: 5 M subjected to medical checkup
- Excise duty: 20% of LACE
Transaction Process
- Application
- Credit review & approval
- Offering
- Security perfection
- Disbursement
- Monitoring

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Equity Bank is Regulated by the Central Bank of Kenya