maka wrote:Impunity wrote:Bigchick wrote:FRM2011 wrote:TheGeek wrote:Suppose you have 1.25m that you want to use to backup a loan of 1.0m.
What options are in the market ?
Walk to faulu And you will never regret. No other bank can even come close. The trick is to fix the amount for a period longer than 12 months. You can get 14%. Thank me later.
The other advantage where faulu beats the others hands down is when borrowing against a fixed deposit. You fill in an application form, they give you a letter of offer on the spot and you have your money.
One of the top 5, refused to lend against a fixed deposit arguing that they do not lend against security but to a viable business that can be able to repay back. I closed my account on the spot.
Know ye all men and women
That MFIs are not covered under the Deposit Protection Fund.
Be advised too that the higher the interest rate offered the more likely the institution is in liquidity crisis and is willing to pay anything to get your cash.
Remember Imperial with 15% return on the bond!
I normally do Faulu on a 7 monthly deposit but tega my sikio kweli kweli,anything small and I take my deposit and forfeit the interest...so far so good.
Talk to coop trust or cytonn..current rates are above 21% p.a (23% with 2% management fees and 21.75% respectively)..and @impunity is right be in the know about the Co. listen to each and every little news that chomokaz...and I prefer doing shorter dated periods 3 months to be precise.
With gaaament T/bills and Bonds you can risk the 12 months since serikali itakuwa tu....lakini hizo banks owned by Families and thos who have MDs being hero-worshiped like the Member, careful, not more than 6 months please.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.