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Law Capping interest rates
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tom_boy
#571 Posted : Wednesday, August 24, 2016 7:03:59 PM
Rank: Member

Joined: 2/20/2007
Posts: 767
murchr wrote:
Impunity wrote:
kawi254 wrote:
Does this also affect mobile banking loans e.g Equitel (24%p.a), M-shwari and such?


M-suruari is 90%pa...7.5&% pm.


No

@muchr, please clarify. Does the new act differentiate between normal loan and mobile loan.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Gadaffi
#572 Posted : Wednesday, August 24, 2016 7:19:32 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
Interest rates have been capped but financial institutions will have a free hand in composing APR which will be definitely above 20%.
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murchr
#573 Posted : Wednesday, August 24, 2016 7:21:28 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
tom_boy wrote:
murchr wrote:
Impunity wrote:
kawi254 wrote:
Does this also affect mobile banking loans e.g Equitel (24%p.a), M-shwari and such?


M-suruari is 90%pa...7.5&% pm.


No

@muchr, please clarify. Does the new act differentiate between normal loan and mobile loan.


Refer to post #466
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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maka
#574 Posted : Wednesday, August 24, 2016 7:22:49 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
murchr wrote:
tom_boy wrote:
murchr wrote:
Impunity wrote:
kawi254 wrote:
Does this also affect mobile banking loans e.g Equitel (24%p.a), M-shwari and such?


M-suruari is 90%pa...7.5&% pm.


No

@muchr, please clarify. Does the new act differentiate between normal loan and mobile loan.


Refer to post #466


Murchr aka Finance CSsmile Jibu wafuasi...
possunt quia posse videntur
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obiero
#575 Posted : Wednesday, August 24, 2016 7:24:50 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,476
Location: nairobi
Gadaffi wrote:
Interest rates have been capped but financial institutions will have a free hand in composing APR which will be definitely above 20%.

Hii huitwa porojo
COOP 306,100 ABP 31.96, KEGN 112,100 ABP 10.64, MTNU 131,000 ABP 10.21
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maka
#576 Posted : Wednesday, August 24, 2016 7:38:08 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Look at this;

This month the Central Bank of Kenya offered a 10 year Treasury Bond for a total amount of up to Kshs 25 Billion. The total number of bids received was 795 amounting to Kshs 26.31 Billion. The Weighted average rate for successful bids was 15.039%

Coupon 15.039% crazy...even after WHT its good cash
possunt quia posse videntur
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  | | Edit by user: Wednesday, August 24, 2016 7:39 PM | Reason: Not specified
obiero
#577 Posted : Wednesday, August 24, 2016 7:45:30 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,476
Location: nairobi
maka wrote:
Look at this;

This month the Central Bank of Kenya offered a 10 year Treasury Bond for a total amount of up to Kshs 25 Billion. The total number of bids received was 795 amounting to Kshs 26.31 Billion. The Weighted average rate for successful bids was 15.039%

Coupon 15.039% crazy...even after WHT its good cash

I spoke to the president and his take was that the government shall pull down borrowing rates for itself, which is a good thing.. Expect government to obtain cheap credit. Watch the tbill rate slide down in coming months. We live in good times
COOP 306,100 ABP 31.96, KEGN 112,100 ABP 10.64, MTNU 131,000 ABP 10.21
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githundi
#578 Posted : Wednesday, August 24, 2016 7:56:29 PM
Rank: Veteran

Joined: 11/19/2010
Posts: 1,308
Location: nairobi metropolitan
Tick. .tick. ..
Let us watch the movie
Democracy does not belong to the dead
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Pesa Nane
#579 Posted : Wednesday, August 24, 2016 7:59:03 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
tom_boy wrote:
murchr wrote:
Impunity wrote:
kawi254 wrote:
Does this also affect mobile banking loans e.g Equitel (24%p.a), M-shwari and such?


M-suruari is 90%pa...7.5&% pm.


No

@muchr, please clarify. Does the new act differentiate between normal loan and mobile loan.

The bill addressed BANKS and FINANCIAL INSTITUTIONS only. If the loan is from a BANK expect it to be capped. Your accessing the money through mobile, TT, Cheque, SWIFT, cash, etc should be immaterial.
Pesa Nane plans to be shilingi when he grows up.
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Gadaffi
#580 Posted : Wednesday, August 24, 2016 7:59:35 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
obiero wrote:
Gadaffi wrote:
Interest rates have been capped but financial institutions will have a free hand in composing APR which will be definitely above 20%.

Hii huitwa porojo

Have u ever borrowed and if so, do u know ur APR..
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