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Faulu Kenya Loans 12%PA
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The optimist
#1 Posted : Tuesday, June 11, 2013 8:05:16 PM
Rank: Member

Joined: 6/14/2010
Posts: 521
Location: Nairobi
Are these rates for real?
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mawinder
#2 Posted : Tuesday, June 11, 2013 8:09:49 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
The optimist wrote:
Are these rates for real?

Yes!!!
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alustaadh
#3 Posted : Tuesday, June 11, 2013 10:07:16 PM
Rank: Member

Joined: 11/6/2010
Posts: 222
Location: NAMANGA
their 500k loan facility translates to a cool 44% interest on the principal in just 3 years
It is humiliating to be associated with thieves and murderers.
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Lolest!
#4 Posted : Monday, July 29, 2013 12:54:20 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
13pc for depositors and 12pc for customer loans???
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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bird_man
#5 Posted : Monday, July 29, 2013 2:36:35 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Lolest! wrote:
13pc for depositors and 12pc for customer loans???


Could be 12% compounded interest & not reducing balance.
Formally employed people often live their employers' dream & forget about their own.
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mwekez@ji
#6 Posted : Monday, July 29, 2013 2:40:22 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Lolest! wrote:
13pc for depositors and 12pc for customer loans???


Yes. And they are making lots of money out of this. 13pc is simple interest rate and 12pc is flat rate
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Ngong
#7 Posted : Monday, July 29, 2013 2:57:58 PM
Rank: Veteran

Joined: 11/17/2012
Posts: 1,461
Location: Ngong Forest
mwekez@ji wrote:
Lolest! wrote:
13pc for depositors and 12pc for customer loans???


Yes. And they are making lots of money out of this. 13pc is simple interest rate and 12pc is flat rate



Tafadhali fafanua na example eg 1 Million loan/deposit we see clearly how it works for novices please.Pray
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mwekez@ji
#8 Posted : Monday, July 29, 2013 3:24:32 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Ngong wrote:
mwekez@ji wrote:
Lolest! wrote:
13pc for depositors and 12pc for customer loans???


Yes. And they are making lots of money out of this. 13pc is simple interest rate and 12pc is flat rate



Tafadhali fafanua na example eg 1 Million loan/deposit we see clearly how it works for novices please.Pray


12% flat rate on a 1 year loan is equivalent to 21.46% reducing balance rate.

Simply, Faulu at the end of the year pays KES 130,000 out of a KES 1M deposit but makes KES 214,600 out lending that money. Note the lending arm involves giving further loans on monthly repayments made by a borrower.
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Chaka
#9 Posted : Monday, July 29, 2013 5:31:34 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
@mwekez@ji,
So if I give faulu 1M for 3 months ,they should give me 130,000X0.25=32,500 ?
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maka
#10 Posted : Monday, July 29, 2013 6:00:58 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Chaka wrote:
@mwekez@ji,
So if I give faulu 1M for 3 months ,they should give me 130,000X0.25=32,500 ?


1,000,000*(12/100)*(1/4)=
possunt quia posse videntur
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