I took out a cfc scheme loan of 1.2m feb 2011 ksh29563pm for 60 months.It was employer negotiated meaning interest was fixed at 15%pa plus a few percentage points the banks adds. Even b4 the CBK altered rates in october last year cfc has changed rates 5 times without informing our employer. Their loan statement shows eg may interest is 21000 principle 8400 yet june interest goes to 16000 principle 12000 yet its supposed to be on reducing balance. Some months like jan 2012 1ntrest shows 28000 meaning principles is less that 1000. Other charges inserted totaling to 19000ksh penalty late payment yet employer pays on time. This they say they will refund but i want to sue them. I have made 11 installments totaling 325,171 yet loan balance is 127,897 meaning i have paid less that 100k. I have taken loans with EB,BBK and their interest reduces every months as total balance goes down(even with rates increases) with statements u can elewa They say rate is now 28% up from 15% yet direct sales guy are telling pple 19%. Paying balance to escape is even hard they say early repayment penalty is now 12% these SOUTH aFRICAn thieves pls avoid like plague use stanchart or barclays.Kenya Bankers Associated in a press release on 14th dec 2011 said no early penalty should be applied on borrowers whos rate have been altered from the original contracted rate.Who knows a good lawyer who can take these guys to sweat.