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Law Capping interest rates

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bird_man		#1191 Posted : Tuesday, September 20, 2016 3:41:45 PM
Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi		Shak wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? That's funny. Just checked mine and both my easy plus and easy loan limits have increased Strange.For easy loan I had a limit of 30K last week, dont know what happened. Anyway lets watch. Formally employed people often live their employers' dream & forget about their own.
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newfarer		#1192 Posted : Tuesday, September 20, 2016 3:47:43 PM
Rank: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda		bird_man wrote: Shak wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? That's funny. Just checked mine and both my easy plus and easy loan limits have increased Strange.For easy loan I had a limit of 30K last week, dont know what happened. Anyway lets watch. How will they make money to pay me 7.35 % deposit? These banks are just throwing tantrums, they will come back begging. No more time for vampires punda amecheka
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Impunity		#1193 Posted : Tuesday, September 20, 2016 6:13:08 PM
Rank: Elder Joined: 3/2/2009 Posts: 26,331 Location: Masada		bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. Portfolio: Sold You know you've made it when you get a parking space for your yatcht.
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Bree		#1194 Posted : Tuesday, September 20, 2016 6:17:24 PM
Rank: Member Joined: 7/17/2008 Posts: 478 Location: Old Trafford		Can't get any juicier if this is legit..'CBK lowers CBR to 10% on concerns of slowdown in private sector credit; pledges to continue monitoring impact of interest cap law.' Wanjiku smiling all the way to the bank.
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guru267		#1195 Posted : Tuesday, September 20, 2016 6:42:10 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		Impunity wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... Mark 12:29 Deuteronomy 4:16
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enyands		#1196 Posted : Tuesday, September 20, 2016 6:58:12 PM
Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya		guru267 wrote: Impunity wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... Banks are going to shed off some employees to cut costs.
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bird_man		#1197 Posted : Tuesday, September 20, 2016 7:02:02 PM
Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi		guru267 wrote: Impunity wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... The Act will be reversed...perhaps after elections.It's very good for employees with high salaries and structured business. Mama mboga and the likes cannot meet eligibility criteria anymore. Formally employed people often live their employers' dream & forget about their own.
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maka		#1198 Posted : Tuesday, September 20, 2016 7:13:38 PM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		bird_man wrote: guru267 wrote: Impunity wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... The Act will be reversed...perhaps after elections.It's very good for employees with high salaries and structured business. Mama mboga and the likes cannot meet eligibility criteria anymore. With UK and WSR in power this thing will never be reversed... possunt quia posse videntur
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holycow		#1199 Posted : Tuesday, September 20, 2016 7:20:37 PM
Rank: Veteran Joined: 11/11/2006 Posts: 972 Location: Home		Quote: GetIT411: CBK cuts CBR rate to 10pc in move likely to further push more banks to lower interests to 14pc in line with the new law. www.capitalfm.co.ke
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watesh		#1200 Posted : Tuesday, September 20, 2016 7:50:04 PM
Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya		CBR has been lowered. Another hit in the nuts for the banks....
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