Angelica _ann wrote:MaichBlack wrote:watesh wrote:Ericsson wrote:KCB Mpesa loan is back.
"Our mobile banking services have resumed today following a system technical hitch experienced last week on Thursday"
We have standardized our fee charges for all unsecured loans at 14% p.a. & a one-time negotiation fee of 2.5%"
Ati technical hitch
another term to mean they were not making enough money from it.
Glad the cash cow is back up and running
3.66%
per month. Still cheap money for those who use the facility.
I can imagine a mama mboga or any other trader who takes a loan of 10,000/= and has to pay an interest of only (
250+116 = 366/= )
at the end of the month! He/She will make the interest back in half a day. The rest of the month they will be working for themselves!!! And they can take another loan the next month if they wish!!!
Still way cheap considering the previous prevailing rates. I hope they will increase the amounts one can borrow to meaningful levels
If you borrow 10,000 per month for 12 months at 3.66 then that shall be a whopping 43% pa!!!!!!!
The peculiar kenyans will be milked dry due to their style of borrowing.
The best borrowing would be to borrow at once say (12 x 10,000) at 16.5% pa insteand of piecemeal monthly takes...but what do I know?
In fact I am now confused.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.