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S.Mutaga III
#1 Posted : Thursday, March 12, 2015 9:58:44 PM
Rank: Member


Joined: 3/26/2012
Posts: 830
I am considering the process of buying pieces of land around Nairobi...mostly between 350k and 500k. To do this, I will need an institution where I can save the cash and be withdrawing the cash after 4-6 months to buy a plot, constantly repeating the process. Where can I get interest on my deposits on a monthly or quarterly basis? What are the interest rates and under what conditions?
A successful man is not he who gets the best, it is he who makes the best from what he gets.
Boris Boyka
#2 Posted : Thursday, March 12, 2015 10:08:52 PM
Rank: Veteran


Joined: 11/15/2013
Posts: 1,977
Location: Here
FIXED DEPOSITS
EQUITY BANK
No brochure but they calculate when you tell them the figure. e.g for 500k.
3 moths - 5.75%
6 months - 6.25%
12 months - 6 %

COOP BANK
50 K - 1 M is as below.
1 month 3 - 3.75 %
2 months 3.55 - 4.25 %
3 months 3.75 - 4.5 %
6 months 4.25 - 5 %
12 months 4.5 - 5.25 %
NB
% is per annum (p.a) therefore for a month you divide the rate by 12.
There is CALL. rates; means you make a phone call improtu.
Family bank.is close to but less than coops
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
ayushnehra
#3 Posted : Thursday, March 12, 2015 10:37:21 PM
Rank: Member


Joined: 1/4/2015
Posts: 153

In Kenya,

I&M Bank

For 50,000 to 1m.
1 month - 7.50 %
3 months - 8.50 %
6 months - 6.5 %
12 months - 6 %

All are PA.
https://www.imbank.com/business/interest-rates/



Also Try bank Of Baroda . I know for 1m you can get 8% + for 6 months with some sweet talk.


Our Neighbours Uganda,

Crane Bank
http://www.cranebanklimi.../accounts/fixed-deposit
11% PA for 6 months Starting at 35,000 KShs.
12.5% PA for 1 Year...

Not too bad a little risky regarding the conversion rates..but 6 months will not make a significant difference!!


Bank Of Baroda Uganda

http://uganda.deposits.o...-year-fixed-deposit.html
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
Xymalos
#4 Posted : Friday, March 13, 2015 6:04:07 AM
Rank: New-farer


Joined: 2/14/2015
Posts: 97
Location: Kenya
S.Mutaga III wrote:
I am considering the process of buying pieces of land around Nairobi...mostly between 350k and 500k. To do this, I will need an institution where I can save the cash and be withdrawing the cash after 4-6 months to buy a plot, constantly repeating the process. Where can I get interest on my deposits on a monthly or quarterly basis? What are the interest rates and under what conditions?


Good idea. I have constantly done the same - buying plots on yearly basis. Now thinking of selling some of them to develop one or two for cash-flow purposes!
enyands
#5 Posted : Friday, March 13, 2015 7:52:31 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
Try Madison insurance money market option . I did some money few months back and they gave me back with 12 % and the good thing is that they can give you your money within a week Not three months fixed deposit as banks do . Try them .best of luck
young farmer
#6 Posted : Friday, March 13, 2015 8:31:25 AM
Rank: New-farer


Joined: 9/25/2012
Posts: 58
Location: kenia
[quote=ayushnehra]
In Kenya,

I&M Bank

[
[/size]

All are PA.
https://www.imbank.com/business/interest-rates/

Check your percentage again.
Also Try bank Of Baroda . I know for 1m you can get 8% + for 6 months with some sweet talk.


Our Neighbours Uganda,

Crane Bank
http://www.cranebanklimi.../accounts/fixed-deposit
11% PA for 6 months Starting at 35,000 KShs.
12.5% PA for 1 Year...

Not too bad a little risky regarding the conversion rates..but 6 months will not make a significant difference!!


Bank Of Baroda Uganda

http://uganda.deposits.o...year-fixed-deposit.html[/quote]
ayushnehra
#7 Posted : Friday, March 13, 2015 11:28:05 AM
Rank: Member


Joined: 1/4/2015
Posts: 153
@youngfarmer..What?
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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