Commercial Mortgage Loan

Commercial Mortgage product is part of the solutions within our mortgage sector, designed to help customers purchase commercial properties.

Loan amount of Ksh 1,000,001 – Ability to pay
Repayment period of 180 months depending on the customer’s profile
The current prevailing Interest rate CBR+Margin, with Lace of 3%, Excise duty of 20% of LACE
Loan to Value ratio, 80% of the open market value, purchase price or construction cost whichever is lower of the property.
Security: Title, charge, insurance cover for life, fire and other insurable risk

Existing and new customers who wish to acquire commercial properties that could be charged to the bank free from any encumbrances

Requirements
- Active Equity Account
- KYC Documentation
- Title Deed Copies and Valuation Report – Required upon approval
- Financial Statements
- Other Supporting Documents – As applicable
- Current CRB Reports
- Additional Documents – Depending on the borrower’s loan purpose
Charges
- Interest rate: Current prevailing rate: CBR+Margin
- One off fee 3%
- Insurance fee: 0.675%
- Excise duty: 20% of LACE

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Equity Bank is Regulated by the Central Bank of Kenya