Verified 12 September 2026
Equity Accounts: Which One Fits You
By Arnold Ochieng · Equity Bank Kenya hub · paybillke is an independent guide and is not affiliated with Equity Bank Kenya.
Equity has accounts for individuals, students, salaried workers, savers, businesses and schools. Opening one gives you paybill 247247, the app, Equitel and a card. Here is how to choose.
Everyday and salary accounts
The ordinary personal account for daily banking, salary accounts for employees, and student and youth accounts for those starting out, all linked to M-PESA via 247247, the app and Equitel.
Savings
Savings accounts for building funds, including goal-based saving, and fixed deposits for a set return, arranged at a branch.
School fees collection account
For schools, the Equity School Fees Collection Account receives fees from parents through 247247 and the school's own setup, which is why many schools bank with Equity. This links to the School Fees hub and /school-fees/equity.
How to open
Open at any Equity branch or agent with your ID, or start on the Equity app, then set up the app and Equitel to bank from your phone.
Frequently asked
How do I open an Equity account?
At a branch or agent with your ID, or on the app.
Which account for a student?
The student or youth account.
Do schools have a special account?
Yes, the School Fees Collection Account.