Updated 2 November 2026
NCBA vs Equity Bank: on the Central Bank of Kenya’s August 2026 bank-by-bank table, NCBA lent at an average of 14.00% a year and Equity at 14.90%, so NCBA was the cheaper average borrower’s bank by 0.90 percentage points. On everyday fees Equity is cheaper for small M-Pesa transfers and PesaLink: sending KSh 1,000 to M-Pesa costs KSh 13 at Equity against up to KSh 15 at NCBA, and PesaLink of KSh 5,000 is KSh 50 at Equity and KSh 50 at NCBA, but KSh 50,000 is KSh 50 at Equity against KSh 100 at NCBA. Here is the full NCBA vs Equity Bank comparison.
Updated November 2026. Sources: CBK commercial banks’ weighted average lending rates (August 2026), NCBA Tariff Guide NCBA/TARIFF/05/26, Equity Bank (Kenya) Tariff Guide (revised February 2025), KDIC. Fees exclude excise duty.
NCBA vs Equity Bank: key figures
| Metric | NCBA | Equity Bank |
|---|---|---|
| Average lending rate (CBK, Aug 2026) | 14.00% | 14.90% |
| Gap to market average (14.34%) | -0.34 pts | +0.56 pts |
| Basic account | Go Banking: KSh 500 to open, no ledger fee | Ordinary: KSh 400 to open, no monthly fee |
| Own ATM withdrawal | KSh 30 | KSh 30 |
| Counter withdrawal (small amounts) | KSh 325 below KSh 80,000 | KSh 100 |
| Bank to M-Pesa, KSh 1,000 | Up to KSh 15 | KSh 13 |
| Bank to M-Pesa, KSh 20,000 | Up to KSh 67 | KSh 66 |
| PesaLink, KSh 50,000 | KSh 100 | KSh 50 |
| RTGS online | KSh 300 | KSh 500 |
| Mobile credit | M-Shwari (with Safaricom), NCBA app loans | Eazzy Loan (Equity app, Equitel) |
| M-Pesa paybill | 880100 | 247247 |
| Deposit insurance | Both KDIC members: up to KSh 500,000 per depositor per bank | |
What the rate gap costs you
Using each bank’s CBK average rate on a reducing balance (illustration only; your offer depends on your credit profile, and fees come on top):
| Loan | NCBA monthly | Equity monthly | Extra interest at Equity |
|---|---|---|---|
| KSh 200,000 over 24 months | KSh 9,603 | KSh 9,688 | about KSh 2,046 |
| KSh 500,000 over 36 months | KSh 17,089 | KSh 17,308 | about KSh 7,897 |
| KSh 1,000,000 over 60 months | KSh 23,268 | KSh 23,737 | about KSh 28,153 |
Fees also matter. Equity’s credit tariff adds a Loan Application and Credit Evaluation fee of up to 5% on loans priced at its reference rate plus a margin. NCBA’s published pricing runs from its lowest premium (14.00% all-in) to its highest (22.50%), so a riskier borrower can pay far more than the average. Get a written total cost of credit from both and compare totals, not monthly figures.
Everyday fees compared
| Amount sent to M-Pesa (KSh) | NCBA (up to) | Equity |
|---|---|---|
| 101 – 500 | 11 | 11 |
| 501 – 1,000 | 15 | 13 |
| 1,501 – 2,500 | 25 | 24 |
| 3,501 – 5,000 | 47 | 44 |
| 7,501 – 20,000 | 67 | 66 |
| Above 20,000 | 70 (to 150,000) | 68 (to 150,000) |
- PesaLink: NCBA free up to KSh 500, KSh 50 to KSh 10,000, KSh 100 above. Equity free up to KSh 1,000, KSh 50 to KSh 100,000, KSh 100 above.
- Counter cash: NCBA charges KSh 325 for withdrawals below KSh 80,000 (KSh 100 from KSh 80,000 to KSh 1 million); Equity charges KSh 100. Branch-heavy customers pay much less at Equity.
- Other ATMs: NCBA KSh 68 on PesaConnect and KSh 150 on Visa ATMs; Equity KSh 200 at other banks’ ATMs.
- Bounced cheques and failed standing orders: NCBA KSh 3,000 each; Equity KSh 2,500 for an in-house refer-to-drawer and KSh 500 for a failed standing order.
- Credit cards: NCBA Classic KSh 2,750 a year, Gold KSh 4,500; Equity Classic KSh 2,500 a year (KSh 2,500 joining), Gold KSh 4,500 (KSh 7,500 joining).
For Equity help lines and paybill fixes, see Equity Bank help.
NCBA in brief
NCBA was formed by the 2019 merger of NIC Bank and Commercial Bank of Africa. It runs M-Shwari with Safaricom, has a strong corporate and asset-finance book and is listed on the NSE. Its pricing is wide: the cheapest published borrowers sit at the CBK average, the riskiest well above it. See NCBA loan interest rates and the NCBA loan calculator.
Equity Bank in brief
Equity has Kenya’s biggest retail customer base, a large agent network and Equitel. Basic accounts carry no monthly fee and branch withdrawals are cheap at KSh 100, but agent withdrawals are expensive (KSh 166.75 for KSh 10,001 to 20,000, including excise). Estimate a loan with the Equity loan calculator.
NCBA vs Equity Bank: which should you choose?
- Cheapest average loan: NCBA (14.00% vs 14.90%). Start quotes there if your credit record is clean.
- Cheapest for counter and small transfers: Equity.
- Large online RTGS payments: NCBA (KSh 300 vs KSh 500).
- PesaLink between KSh 10,001 and KSh 100,000: Equity (KSh 50 vs KSh 100).
- Safety: both are CBK-licensed and KDIC-insured.
Related: KCB vs Equity and PesaLink vs RTGS vs EFT.
Sources
- CBK: commercial banks’ weighted average rates
- NCBA Tariff Guide 05/26 (PDF)
- Equity Bank (Kenya) Tariff Guide (PDF)
- Total Cost of Credit portal
Frequently asked questions
Is NCBA or Equity cheaper for loans?
On CBK’s August 2026 data, NCBA’s average lending rate was 14.00% and Equity’s 14.90%. Your own rate depends on your risk profile and both add fees.
Which is cheaper for bank to M-Pesa, NCBA or Equity?
Equity, slightly: KSh 13 vs up to KSh 15 for KSh 1,000, and KSh 68 vs up to KSh 70 for large transfers.
What are the NCBA and Equity paybill numbers?
NCBA: 880100. Equity: 247247. Use your account number as the account number.
Are NCBA and Equity deposits insured?
Yes. Both are KDIC members, so deposits are covered up to KSh 500,000 per depositor per bank.
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