Equity Bank has revised its check‑off loan product, offering a maximum repayment term of 144 months – twelve years – for teachers employed by the Teachers Service Commission, county government staff and members of the National Police Service.

The change means borrowers can spread the same loan amount over a longer horizon, reducing the size of each monthly instalment and making the debt easier to fit into a regular salary budget.

Equity’s check‑off facility, known as Equiloan, deducts repayments directly from the borrower’s salary, provided the salary is already processed through Equity Bank, simplifying the repayment process.

The bank emphasizes that borrowers should first determine the exact amount needed for the intended purpose – such as school fees, home improvement or a small‑business investment – rather than automatically opting for the maximum loan size.

Equity Bank states that its check‑off loans carry no hidden fees and that interest is calculated on a reducing‑balance basis, meaning the interest charge declines as the principal is repaid.

Borrowers are encouraged to balance the lower monthly burden against the longer commitment, ensuring the loan aligns with their long‑term financial plans and does not jeopardise future savings or retirement goals.