Good tips mukiha.But to be honest the barclays customer staff are just too arrogant.Their advice to customers hit below the belt.Some practices there are almost a fraud to customers.I wish I could name the branch and employee I am so pissed off with.But for the sake of the employees kids,I won't.

You hit the nail on the head on this one. I took a Barclays loan too last year at which time Barclays said that i'd pay a 3 month interest on the principle balance if i paid after 12 months. Along the way,they threw out that clause and declared instead that everyone would pay a 6 month's interest on the principle balance as an early payment penalty (even though i took my loan when this was not applicable).

Way forward: Simply see another bank e.g. Standard Chartered who'll buy out your loan from Barclays without any fees and since it's bank to bank,without the 6 month interest rule being applied. SC has a 5% penalty early payment clause which if you consider their lower monthly payments on personal loans will end up saving you a bunch of money.

I DONT WORK FOR A BANK SO PLEASE CONFIRM THE ISSUES!

We are all investors. Making money,making trouble,or making excuses.

@Njunge....Great info. My question is,which are these saccos that offer to the self employed in Kenya....I would really love to know

@Waria - Enough Said. My point exactly.

Go to CBA! No penalty for early repayments. Loan approval process takes about 4 days, their customer care reps are very professional and will insist that you read the contract before signing it. They will also buy out any loan you have with another bank without much fuss!

Immorality: The morality of those who are having a better time!