Equity Bank Kenya has become the third lender after Cooperative Bank of Kenya and KCB to reduce interest on loans to reflect a lower benchmark Central Bank Rate.
Equity Bank Kenya says borrowers will be loaned at 14.39pc plus a margin based on their customer risk profile.
The lender says the 3pc reduction in the base Equity Bank Reference Rate applies to a wide range of credit products.
Equity Bank Kenya says the reduced lending rate will enable businesses access affordable credit to lower operational costs and foster their growth and create jobs.
On Monday Cooperative Bank of Kenya lowered its benchmark lending rate to 14.5pc while KCB reduced its rate to 14.6pc.
