Equity Bank Kenya is one of the leading financial institutions in the country, offering a variety of loan products — from personal and business loans to salary advances and mobile loans. If you’ve taken a loan from Equity Bank, repaying it on time is crucial to maintain a good credit score and avoid penalties.
Luckily, Equity Bank has made it easy and convenient to repay your loan via M-Pesa, without the need to visit a branch. Here’s a step-by-step guide on how to repay your Equity Bank loan using M-Pesa.
💡 Why Repay Your Equity Loan via M-Pesa?
Repaying your Equity loan via M-Pesa is:
- Fast – The transaction takes just a few minutes.
- Convenient – You can make payments anywhere, anytime.
- Secure – Your payment goes directly to your Equity account.
- Reliable – You get an instant confirmation SMS after payment.
✅ Step-by-Step Guide: How To Repay Equity Bank Loan via M-Pesa
Follow these simple steps to repay your loan:
Option 1: Using M-Pesa Paybill Number
- Go to your M-Pesa Menu on your phone.
- Select Lipa na M-Pesa.
- Choose Paybill.
- Enter Business Number: 247247 (This is the official Equity Bank Paybill).
- Enter your Equity Bank Account Number – use the loan account number or your Equity Bank account linked to the loan.
- Enter the amount you wish to pay.
- Enter your M-Pesa PIN and press OK to confirm.
- You’ll receive an M-Pesa confirmation SMS followed by a notification from Equity Bank confirming your loan repayment.
Option 2: Using Equitel Line
If you have an Equitel SIM card, you can also repay your loan directly using your Equitel line.
- Go to your Equitel menu.
- Select My Money → Send Money → To Bank.
- Choose Equity Bank as the recipient bank.
- Enter your loan account number or select it from your list.
- Enter the amount to repay.
- Confirm details and complete the transaction.
- You’ll receive an SMS confirmation once payment is successful.
📱 Important Tips When Paying Equity Loans via M-Pesa
- Always ensure you use the correct account number to avoid payment errors.
- You can confirm your outstanding loan balance by visiting an Equity branch, using the Equitel app, or calling Equity customer care (100 or +254 763 063 000).
- If you overpay, the extra amount will usually remain as credit on your account.
- Keep your M-Pesa and Equity confirmation messages for reference.
💬 Common Questions About Equity Loan Repayment
1. What is Equity Bank’s M-Pesa Paybill Number?
The official Equity Bank Paybill number is 247247.
2. Can I repay a loan using someone else’s M-Pesa line?
Yes. As long as you enter the correct loan account number, the payment will reflect correctly.
3. How long does it take for the payment to reflect?
Most payments reflect instantly, but in rare cases, it can take a few minutes.
4. What if my payment fails?
If you don’t receive a confirmation SMS from Equity, contact Equity Bank customer care or visit your nearest branch with the M-Pesa message for assistance.
🏁 Final Thoughts
Repaying your Equity Bank loan via M-Pesa is one of the easiest and most reliable methods available in Kenya today. Whether you’re clearing a personal loan, salary advance, or business loan, M-Pesa gives you the flexibility to make payments anytime — day or night.
Always remember to repay your loan on time to maintain a good credit score and access higher loan limits in the future.
📞 Equity Bank Contacts
- Customer Care: 100 or +254 763 063 000
- Email: info@equitybank.co.ke
- Website: www.equitybankgroup.com