Key takeaway: The Equity Investment Bank (EIB) Money Market Fund is a CMA-regulated unit trust with a low entry point (about KSh 1,000) but a yield that has recently ranked near the bottom of Kenya’s MMF league tables paying anywhere from the mid-4% range to 5.6% gross, depending on the week. Useful for simple Equity-linked cash parking; less competitive if rate shopping is your priority.
The Equity Money Market Fund pools investor cash into short-term interest-bearing instruments such as Treasury bills and other money-market securities. It is aimed at capital preservation and liquidity, not high growth.
It is managed by Equity Investment Bank and regulated by the Capital Markets Authority (CMA). Many Equity Bank customers look at it first because of brand familiarity and app access — but yield still matters, and this fund has often printed below the market average in 2026 rankings.
Equity MMF at a Glance
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| Item | Details (confirm live) |
|---|---|
| Fund type | Money market / unit trust |
| Manager | Equity Investment Bank (EIB) |
| Regulator | Capital Markets Authority (CMA) |
| Recent yield range (independent tables) | About 4.9%–5.6% gross EAR in Sept 2026 prints (e.g. ~4.9% on 11 Sept tables; ~5.60% gross / ~4.76% net on a 21 Sept 2026 aggregator print) |
| Industry context | Often near the bottom of 30+ fund rankings; field average recently about ~9.2%–9.3% |
| Management fee | About 2.00% p.a. (commonly quoted) |
| Withholding tax | 15% on interest for residents |
| Minimum initial | About KSh 1,000 |
| Minimum top-up | Often cited around KSh 500 (confirm on form/app) |
| Risk profile | Low (money market) |
| Typical assets | Short-term government securities and other money-market instruments |
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Current Rates: Why Equity Sits Low
Independent September 2026 rankings consistently place Equity MMF near the lower end of the Kenyan money market table:
- ~4.9% gross effective annual yield in an 11 September 2026 industry-style ranking (Business Daily–linked tables via secondary trackers)
- ~5.60% gross / ~4.76% net after 15% WHT on a 21 September 2026 Serrari comparison print (26th of 27 in that table; AUM shown as relatively small)
- Earlier 2026 tables also clustered Equity around ~5.1%–5.2%
That is well below the recent field average of about 9.2%–9.3%. After 15% withholding tax, take-home yield can sit close to or below inflation in some months — which means purchasing power may not grow in real terms even if the nominal balance rises slightly.
Yields are not fixed. They move with T-bill rates, portfolio mix and market liquidity. Always confirm the live quote with EIB before you invest.
Past performance does not guarantee future returns.
How It Compares (Illustrative, Point-in-Time)
Peer yields change weekly. The table below is for context only, using early-to-mid September 2026 independent ranking bands — not a permanent scoreboard.
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| Fund (examples) | Approx. gross EAR (recent Sept 2026 prints) |
|---|---|
| Top-tier funds (e.g. Cytonn, Faulu and peers on weekly tables) | About 11.0%–11.1% in early Sept 2026 tables |
| Strong mid/upper tier (varies by week) | Often about 10%–10.7% |
| Industry average (recent) | About 9.2%–9.3% |
| KCB MMF (for bank-affiliated comparison) | About 8.9%–8.91% in mid/late Sept prints |
| Equity MMF | About 4.9%–5.6% |
Figures are point-in-time from secondary ranking tables. Confirm live rates with each manager.
Brand convenience does not close a multi-percentage-point yield gap on a large balance. On KSh 100,000, several points of difference over a year is real money after tax.
Key Features
- Low barrier: About KSh 1,000 to start
- Top-ups: Flexible; about KSh 500 minimum is commonly cited
- Fee: About 2% p.a. management fee (usually reflected in how yield is quoted)
- Tax: 15% WHT on interest for residents
- Risk: Low relative to equities; not a fixed deposit guarantee
- Use case: Short-term cash, emergency buffer, or parking funds if you already live in the Equity ecosystem
Tax, Inflation and Other Guardrails
- Withholding tax: 15% on interest is standard for resident MMF income. Check whether a published rate is gross or net of tax.
- Inflation: When net yield sits near or below inflation, real returns can be flat or negative even if the unit balance rises.
- Rates move daily: Do not treat any screenshot as a locked rate.
- Not a bank deposit: Unit trusts are CMA-regulated collective schemes, not the same as KDIC-insured deposits.
- Size/liquidity of the fund: Some ranking tables show Equity MMF with a relatively small AUM versus market leaders. That is not automatically unsafe, but it is part of due diligence.
Who It May Suit
- Equity Bank customers who want one-app cash management and accept a lower yield for convenience
- Beginners starting with about KSh 1,000 who value brand familiarity
- Very short holding periods where switching cost/time matters more than a few points of yield
If maximising after-tax yield is the goal, compare several CMA-licensed MMFs before defaulting to Equity.
Documents You Need
- National ID or passport
- KRA PIN certificate
- Passport photo (often required on unit-trust forms)
- Active Equity Bank account (strongly recommended for funding and withdrawals)
How to Open and Fund
Menus change. Treat the steps below as a practical guide and follow live prompts from Equity / EIB.
Option 1: Digital (Equity app or online banking)
- Log in to the Equity Mobile App or Equity Online.
- Open the Invest / Wealth Management section.
- Select Equity Investment Bank unit trusts / Money Market Fund if listed.
- Complete the electronic application, next-of-kin details and KYC uploads (ID, KRA PIN).
- If the MMF product is not visible, contact EIB Asset Management / Wealth support or a branch investment officer for the current digital path or forms. Email contacts such as AWM@equityinvestmentbank.co.ke appear in secondary guides. Confirm the live address on official Equity/EIB channels.
Option 2: Branch
- Visit an Equity Bank branch and ask for the Investment / Wealth Management officer.
- Complete the EIB unit trust application form.
- Submit ID, KRA PIN and any photo requirements for verification.
Funding after activation
You typically receive a client/member number. Fund with at least the live minimum (about KSh 1,000) via:
- Transfer from your Equity transactional account in-app
- M-Pesa to Equity’s designated collection details (confirm Paybill/account on official instructions)
- Standing order for regular top-ups, if offered
Points to Watch
- Yield lag vs peers has been persistent in 2026 public rankings
- Confirm fee, minimum, cut-off times and redemption timeline on current documents
- Use only official Equity/EIB channels and ignore WhatsApp “guaranteed double your money” pitches
- Compare at least two or three other CMA MMFs if you are parking a large balance
Related:KCB Money Market Fund Kenya: Rates, Features & How to Invest (2026)
Frequently Asked Questions
What is the current Equity Money Market Fund rate?
It changes. Recent independent September 2026 prints put it around 4.9%–5.6% gross, near the bottom of industry tables. Check EIB for the live quote.
What is the minimum investment?
About KSh 1,000, with top-ups often from about KSh 500.
Is Equity MMF safe?
It is a CMA-regulated money market fund focused on short-term instruments. Low risk is not zero risk, and yield competitiveness is a separate question from safety.
Why is the rate lower than other MMFs?
Portfolio mix, scale, fees and fund strategy differ by manager. Public rankings have repeatedly shown Equity near the low end in 2026.
How do I invest?
Via Equity app/online wealth menus where available, or through a branch investment officer and EIB unit-trust forms.
What tax applies?
Interest is generally subject to 15% withholding tax for residents.
Should I stay in Equity MMF for convenience?
Only if convenience outweighs the opportunity cost versus higher-yielding CMA funds. Run the numbers on your balance.
Bottom Line
Equity Money Market Fund is easy to approach if you already bank with Equity, with a low KSh 1,000 entry point and standard MMF plumbing (CMA regulation, daily-moving yield, 15% WHT, ~2% fee). On rate alone, recent independent tables place it near the bottom of Kenya’s MMF market which is around the mid-4% to mid-5% gross band while the field average sits near 9%.
Use it knowingly for convenience and short-term parking, or compare peers if you want more competitive after-tax yield. Confirm the live rate and onboarding path with Equity Investment Bank before you transfer cash.
Sources
- Equity Group / Equity Bank Kenya
- Capital Markets Authority
- Serrari Group – MMF rates (includes Equity print as of 21 Sept 2026)
- MMFs Kenya – September 2026 rankings (incl. Equity ~4.9% as of 11 Sept 2026)
- PesaCalc – MMF ranking snapshot
- Cytonn and other industry unit-trust / MMF weekly notes (2026)
Investment products carry risk. Yields are not guaranteed. This article is for information only and is not investment, tax or legal advice. Confirm rates, fees, minimums and application steps on official Equity Investment Bank channels before investing.