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Faulu Kenya Loans 12%PA
Rank: Member Joined: 6/14/2010 Posts: 521 Location: Nairobi
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Are these rates for real?
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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The optimist wrote:Are these rates for real? Yes!!!
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Rank: Member Joined: 11/6/2010 Posts: 222 Location: NAMANGA
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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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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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13pc for depositors and 12pc for customer loans???
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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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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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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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Rank: Veteran Joined: 11/17/2012 Posts: 1,461 Location: Ngong Forest
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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. 
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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. 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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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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@mwekez@ji,
So if I give faulu 1M for 3 months ,they should give me 130,000X0.25=32,500 ?
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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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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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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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 The internet is a dangerous place: who told you Faulu are making money? Go see the books, you will cry.  Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 11/17/2012 Posts: 1,461 Location: Ngong Forest
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Haiya! where are the books please?
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Chaka wrote:@mwekez@ji,
So if I give faulu 1M for 3 months ,they should give me 130,000X0.25=32,500 ? @Chaka, yes, if you get the interest rate of 13%. However, for short tenor, they are more inclined to give you lower interest rate. You may visit them and negotiate
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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fyi @sulker, of the DTMs in Kenya, Faulu is the second biggest only after KWFT
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Rank: Veteran Joined: 11/17/2012 Posts: 1,461 Location: Ngong Forest
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This big but no branch in CBD?
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Ngong wrote:This big but no branch in CBD? They are in CBD, @OTC
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Rank: Elder Joined: 3/2/2007 Posts: 8,776 Location: Cameroon
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Very expensive loans. VERY. Be warned. We did a comparative analysis where a certain loan would require monthly installments of 82k while at National Bank over the same period and 17% interest the installment was around 65k pm. Be the judge. TULIA.........UFUNZWE!
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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mwekez@ji wrote:Ngong wrote:This big but no branch in CBD? They are in CBD, @OTC Is OTC in CBD?
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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mawinder wrote:mwekez@ji wrote:Ngong wrote:This big but no branch in CBD? They are in CBD, @OTC Is OTC in CBD? CBD is the area bound by Moi Ave, University Way, Uhuru Highway and Haile Selassie
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Faulu Kenya Loans 12%PA
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