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OHH GOD RESCUE ME FROM STRANGLING BANK INTEREST RATES!!!
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digitek1
#11 Posted : Tuesday, October 09, 2012 4:11:25 PM
Rank: Veteran

Joined: 2/3/2010
Posts: 1,797
Location: Kenya
is sacco really cheaper considering that you have to have 1/3 of the amount in shares and that you have to continue contributing?
I may be wrong..but then I could be right
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maka
#12 Posted : Tuesday, October 09, 2012 9:22:24 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
eco wrote:
When the interests were at 13.5%, S&L had a fixed option at 15%. It would be more secure to consider paying a little more than be subjected to a yo-yo. For those who chose this option the feeling of maybe they made the wrong decision didn't last long when the flexible option spiked to over 20%. In an unpredictable market, go in flat.

...true always go fixed,floating especially in a region where inflation is an issue is courting trouble.
possunt quia posse videntur
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SonOfGod
#13 Posted : Wednesday, October 10, 2012 8:28:09 AM
Rank: Member

Joined: 11/15/2007
Posts: 22
In Kenya banking there is no fixed interest rate on loans. there is always a disclaimer on the loan form conditions which most of the comm banks have engaged.
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kflarge
#14 Posted : Wednesday, October 10, 2012 8:59:29 AM
Rank: Member

Joined: 3/17/2011
Posts: 112
Actually once beaten twice shy..i have also learnt the hard way
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McReggae
#15 Posted : Wednesday, October 10, 2012 9:22:05 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
digitek1 wrote:
is sacco really cheaper considering that you have to have 1/3 of the amount in shares and that you have to continue contributing?


Eventually SACCO becomes 18%...lakini you still earn dividents on your shares!!!!
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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premio
#16 Posted : Wednesday, October 10, 2012 10:47:26 PM
Rank: Member

Joined: 5/31/2009
Posts: 226
Banks will learn the hard-way 2-3 years down the line. The same Kenyans they are squeezing are the same one they will beg to take loans when things go haywire for them with idle cash and based from my analysis at my workplace, colleagues have swore that they will never sign-up for a bank loan at whatever interest as long as the sacco is there talk of chopping the hand that feeds you
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chemos
#17 Posted : Thursday, October 11, 2012 9:49:28 AM
Rank: Elder

Joined: 11/28/2006
Posts: 1,799
premio wrote:
Banks will learn the hard-way 2-3 years down the line. The same Kenyans they are squeezing are the same one they will beg to take loans when things go haywire for them with idle cash and based from my analysis at my workplace, colleagues have swore that they will never sign-up for a bank loan at whatever interest as long as the sacco is there talk of chopping the hand that feeds you



and u believe ur workmates!!!Laughing out loudly Laughing out loudly Laughing out loudly
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premio
#18 Posted : Friday, October 12, 2012 2:42:31 AM
Rank: Member

Joined: 5/31/2009
Posts: 226
yeah most have repaid their loans in full and others have the sacco takeover the loans 12% vis a vis 24.9% banks will learn the hard way as most people with a choice of alternative source to finance projects will shy away.
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eco
#19 Posted : Wednesday, February 06, 2013 7:18:13 PM
Rank: Member

Joined: 6/17/2011
Posts: 229
Robinhood wrote:
The pain is universal if that makes you feel better. Pole

http://tinyurl.com/aade5qt
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josimar
#20 Posted : Thursday, February 07, 2013 5:32:34 PM
Rank: Member

Joined: 7/6/2010
Posts: 242
Any thoughts if the mortgage interest rates or unsecured loan rates will go down after general elections?
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