Equity Bank Kenya has rolled out an unsecured facility that allows customers to overdraw their accounts up to Sh100,000 to complete transactions such as shopping, taking competition to the doorsteps of Safaricom's Fuliza.
The lender has communicated to customers the new product dubbed 'Boostika', which will allow clients with insufficient funds when making a payment, sending money or buying airtime, to complete such transactions and pay the amount within a month at an effective cost of credit of 8.5 percent.
