Wazua
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Equity lending rate 25%
Rank: Elder Joined: 11/27/2007 Posts: 3,604
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what!they have cited oil and food prices, global economic meltdown, weakening Ksh. effective 15th November 2011 African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: New-farer Joined: 3/18/2011 Posts: 36
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Is it true? eeeeeeh lets join sacco,s ngai kihoti
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Even the shylocks are now cheaper. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Lets be honest. If banks don't react to CBR rise by increasing interest rates in line i.e. by an additional 9.5%, the CBK's policy won't work Sehemu ndio nyumba
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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What are fixed deposit accounts paying?
BBI will solve it :)
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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i am not borrowing any time soon. the terms and conditions allow for the interest rate to change according to the circumstance, i just wonder where EB got the information that there is the economic crunch and that it is worldwide, or is Greece the world? African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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25% of the borrowed cash as interest every year.....jeez!!! @mlennyma, hey shylocks do 25% every month!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Veteran Joined: 5/23/2010 Posts: 868 Location: La Islas Galápagos
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Sober wrote:i am not borrowing any time soon. the terms and conditions allow for the interest rate to change according to the circumstance, i just wonder where EB got the information that there is the economic crunch and that it is worldwide, or is Greece the world? There are banks that offer fixed rates. These ones are effectively contracts for monthly repayments and are interest-rate invariant (as long as you don't default). A bad day fishing is better than a good day at work
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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What McReggae said McReggae wrote:25% of the borrowed cash as interest every year.....jeez!!!
GOD BLESS YOUR LIFE
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Rank: Elder Joined: 5/24/2007 Posts: 1,805
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Is this on new loan issues or ongoing loans? I Think Therefore I Am
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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bwenyenye wrote:Is this on new loan issues or ongoing loans? "the terms and conditions allow for the interest rate to change according to the circumstance" so both. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 5/24/2007 Posts: 1,805
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Aguytrying wrote:bwenyenye wrote:Is this on new loan issues or ongoing loans? "the terms and conditions allow for the interest rate to change according to the circumstance" so both. That interest rates can change, I know. But what I am asking is does anyone with a loan there ( other than staff) been affected ? The reason I am asking is because the moment they move effective interest rates from 15 to 25%, then the bank is in a more serious fix than the borrowers by June next year. Then secondly, Dr Mwangi, was quoted in the press yesterday saying the way he will not increase his rates... This is very inconsistent with his Brand. my two cents. I Think Therefore I Am
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Its boomtime for repossesers and auctioneers. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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bwenyenye wrote:Is this on new loan issues or ongoing loans? on the loan details read "Terms and conditions apply" African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Rank: Veteran Joined: 10/17/2008 Posts: 1,234
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Sober wrote:i am not borrowing any time soon. the terms and conditions allow for the interest rate to change according to the circumstance, i just wonder where EB got the information that there is the economic crunch and that it is worldwide, or is Greece the world? That is exactly what the CBR raise to 16.5% is precisely supposed to achieve. Its a trade off between lower inflation and lower economic growth. Whether the former will be achieved we just have to wait and see.
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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I dont think this increase will affect its target customer that much given that most 'shylocks''sharks' offer loans above 30% while most Microloans were 18% in Equity and KCB, what it means in essense is, instead of 1.5%interest per month equity will just say 2.1% interest per month. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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When EBL raises rates its somewhat OK but when KCB Group does its a crime, gloom & doom. A lot of ya'll can kiss my a** 
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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bwenyenye wrote:
Then secondly, Dr Mwangi, was quoted in the press yesterday saying the way he will not increase his rates... This is very inconsistent with his Brand.
my two cents.
You must think equity is a charitable organization if you expect them to lend at 15% when the CBR is 16.5%... Dr mwangi's statements did not factor in a rate hike.. Mark 12:29
Deuteronomy 4:16
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Wazua
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Equity lending rate 25%
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