4 Back to school Financial Solutions from Equity Bank in 2024

Equity Bank is such a relief when it comes to back-to-school solutions. It provides instant loans, money transfers, and many shopping options. There are several back to school financial solutions from Equity Bank you can leverage to take your child to school.

If you have financial anxiety due to school fees and other expenses, read this article to find out how Equity Bank can be of help to get your child to school. Let’s get started! 

Back To school Financial Solutions from Equity Bank

Equity Bank is among the commercial banks in Kenya that have embraced modern technology. Parents no longer have to queue in the bank for hours to pay school fees. Equity Bank has simplified the payment process in these ways: 

1. Convenient Payment Channels  

  • Equity Mobile App 
  • USSD code: *247#
  • Equitel SIM cards
  • Equity Online
  • Equity Agent. 

Parents can pay school fees directly via any of the above channels. They can save you time and ensure you do not handle cash. If you choose the app, USSD code, Equity Online, or Equitel, you can transact without cash in hand. 

The Equity Agent simplifies how you pay school fees by shortening the time you would handle cash. You also do not have to visit an Equity Bank branch when an agent is in front of your door. 

Equity Bank’s payment modes guarantee high security, shorter transaction steps, instant mini-statements, and transaction receipts. 

Find Out: Types Of Loans In Equity Bank You Can Apply Now

2. No Money Transfer Costs 

Fantastic back to school financial solutions from Equity Bank entail free money transfers. These entails:

Cash Transfers from One Equity Account to Another

The bank does not charge you anything when transferring money from your Equity account to the school’s Equity Bank account. You will pay nothing regardless of the payment channel you select. 

Even if you visit an Equity Bank branch, your cost of transferring money between accounts is zero. 

Payment of Goods and Services is Free

Kids require Exercise books, pencils, pens, rulers, rubbers, textbooks, and other supplies for school. 

Equity Bank eases your stress when buying these items by charging nothing. 

However, you will pay zero transaction fees only when buying these supplies from shops with the Equity Till Number (247 247). Also, use your Equitel line, Equity Mobile App, or *247#.

Also Read: How To Get Equiloan From Equity Bank Easily 

Transact With Equity Bank Credit Cards and Debit Cards for Free

If you are a high or middle-income earner, Equity Bank invites you to apply for one of its credit cards. These cards allow you to shop without handling cash. Instead, they let you borrow money up to a given monthly limit. 

When you get a salary deposit, Equity will automatically deduct its money. The bank allows you to choose a suitable repayment period depending on your credit card type. If you have Equity Classic, Equity Gold, or Amex credit cards, you can use any of them to buy your child’s back-to-school supplies. 

You can also shop with your Equity VISA or MasterCard debit cards for free. Parents can also obtain Equity Bank’s most upgraded student card, as it provides more security and convenience during payments. 

Affordable Banker’s Checks

Some parents still prefer to pay school fees with banker’s checks. Equity Bank provides checks for one hundred shillings only. Once you get your checkbook, you will fill it for your child, and they will take it to their school’s cashier. 

Free Deposits at the Bank or Agent Shop

An alternative way of paying school fees is to deposit cash into the school’s bank account from your local Equity branch. The process is free but not very convenient. Even your local Equity Agent can help you send school fees for free. 

Just provide your child’s admission number, full name, and other details. The agent will issue a receipt that your child can take to the school’s cashier. 

3. Equity Bank Mobile Loans

If you have no money to pay school fees and buy stationery, you can borrow it from Equity Bank. The most convenient loans deliver money to your phone. Equity bank provides these loans without asking for guarantors or collateral.

If you have an Equitel line you have been using for six months or more, you could qualify for a mobile loan. Dial *247# and check your loan limit. Then, apply for the loan amount you want and get money on your SIM.

Eazzy loan can give you up to two hundred thousand Kenyan shillings. If you qualify for an Eazzy Plus loan, your maximum limit is three million Kenyan shillings.

4. Equity Student Accounts and Sponsorship Program

Wings to Fly Program

Equity Bank runs a sponsorship program known as the Wings to Fly. The program helps up to 1,000 bright pupils from poor families get funds for their secondary school education. 

The funds include tuition fees, transportation fees, money for supplies, and medical care. Parents can apply for it after learning about their kids’ KCPE results. 

School Fees Accounts

Other back-to-school financial solutions from Equity Bank include school fees accounts. The School Fees Account and Junior Member Account allow you to save ahead. You can withdraw money for school fees and other expenditures to ease stress.