Co-op Bank vs Equity Bank 2026: Loans, Fees and Accounts

Updated 2 November 2026

Co-op Bank vs Equity Bank: the two are almost level on borrowing cost, with Equity’s average lending rate at 14.90% and Co-op Bank’s at 15.01% on CBK’s August 2026 table, a gap of just 0.11 percentage points. The real differences are in account fees: a Co-op Bank individual current account costs KSh 300 a month plus KSh 35 per ledger entry, while Equity’s personal current and ordinary accounts have no monthly fee. Co-op’s agent withdrawals, however, are cheaper for most amounts (KSh 80 for KSh 10,001 to 20,000 against KSh 145 at Equity, both before excise).

Updated November 2026 from CBK weighted average lending rates (August 2026), the Co-op Bank Tariff Guide captured as of 9 September 2026 and the Equity Bank (Kenya) Tariff Guide (revised February 2025). Fees exclude excise duty unless stated.

Co-op Bank vs Equity Bank: key figures

Loan cost is nearly identical

With averages this close, your personal risk score and the fees decide which is cheaper. Co-op has moved its variable shilling loans to KESONIA plus a risk premium (new loans from 1 December 2025, existing loans by 28 February 2026). Equity prices off its own reference rate plus a margin and adds a Loan Application and Credit Evaluation fee of up to 5%. Ask both for a total cost of credit statement.

Digital loans: MCo-op Cash vs Eazzy Loan

Co-op’s tariff spells out its E-Credit costs: the salary loan carries an appraisal fee of 8%, 10% or 12% depending on term, plus insurance of 0.034% a month, and the E-Credit business loan has a 3% appraisal fee and 4% interest a month. Equity’s Eazzy Loan is priced at reference rate plus margin with fees per the credit tariff. Mobile credit is always far dearer than a branch loan, so use it only for short gaps; our mobile loan calculator shows the true annual cost.

Account fees decide Co-op Bank vs Equity Bank for most people

• A Co-op current account holder making 30 debits a month pays KSh 300 maintenance plus 30 x KSh 35 = KSh 1,050 in ledger fees, about KSh 1,350 a month before excise. The same activity on an Equity current account costs no maintenance or ledger fee.
• If your salary goes to Co-op, use the free Salary Account rather than a current account.
• Co-op’s Haba na Haba account charges KSh 25 a month; Equity’s Ordinary account charges nothing.
• Co-op’s MSME Silver and Gold packages waive the KSh 1,000 or KSh 2,000 monthly fee if you keep KSh 200,000 or KSh 500,000.

Cash at agents

Co-op Kwa Jirani agents charge KSh 50 up to KSh 5,000, KSh 70 to KSh 10,000, KSh 80 to KSh 20,000, KSh 100 to KSh 30,000, KSh 120 to KSh 40,000, KSh 140 to KSh 50,000 and KSh 250 to KSh 100,000, before excise. Equity agents charge KSh 28.75 to KSh 258.75 including 15% excise, which is KSh 25 to KSh 225 before excise. Comparing both before excise, Equity is cheaper up to KSh 5,000 and from KSh 50,001 to KSh 100,000, while Co-op is cheaper from KSh 5,001 to KSh 50,000; for KSh 30,000, for example, Co-op charges KSh 100 and Equity KSh 170.

Co-op Bank in brief

Co-operative Bank is the banker to most of Kenya’s Saccos and co-operatives, and its Kwa Jirani agents and Sacco links give it deep rural reach. It is NSE-listed. Estimate a loan with the Co-op loan calculator or read about MCo-op Cash loans.

Equity Bank in brief

Equity has the largest retail customer base and agent network in Kenya, cheap basic accounts and Equitel. See the Equity loan calculator.

Co-op Bank vs Equity Bank: verdict

• Borrowing: a tie on averages; compare written offers.
• Current account holders: Equity (no maintenance or ledger fees).
• Agent cash between KSh 5,001 and KSh 50,000: Co-op.
• Sacco members: Co-op, for direct Sacco account links.

Related: KCB vs Equity and bank vs Sacco loans.

Sources

• CBK weighted average lending rates
• Co-op Bank Tariff Guide, September 2026 (PDF)
• Co-op Bank: KESONIA pricing
• Equity Bank (Kenya) Tariff Guide (PDF)

Frequently asked questions

Is Co-op Bank or Equity Bank cheaper for loans?

They are almost equal: Equity averaged 14.90% and Co-op 15.01% on CBK’s August 2026 table. Fees and your credit profile decide the cheaper offer.

Does Co-op Bank charge ledger fees?

Yes, on the individual current account: KSh 35 per entry plus KSh 300 a month maintenance. The Salary Account has no maintenance fee.

Which has cheaper agent withdrawals?

Co-op for amounts between KSh 5,001 and KSh 50,000; Equity is cheaper up to KSh 5,000 and above KSh 50,000 (comparing fees before excise).

What are the Co-op and Equity paybill numbers?

Co-op Bank 400200 and Equity 247247.