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Law Capping interest rates
Rank: Veteran Joined: 7/3/2007 Posts: 1,635
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Realtreaty wrote:Kenya Bank Cap = Brexit Sad Sad d'oh! d'oh!
I feel we screwed ourselves.
Majority of bank users are not borrowers but investors
Uhuru protected these minority borrowers and forgot majority investors who have lost loads of investment. How much has the govt lost in the process?
I do not know where to start in cleaning my house.
When banks are infected the the virus spreads to other investment arms like Industrial, Agric, commercial etc
Now its time Banks closed most of the offices thereby affecting the boom in housing.
A balance must be sorted out soonest.
If firms are getting cheaper loan, why would a company like Ketepa Kenya sell its third grade tea at that high cost? Why would property in land be such speculative and costly
Everything will be coming down, even Education
I can see Salaries dropping.
Remember, Kenyans should not expect Salary reviews next year, in fact be ready for redundancies. You fellows are not doing your case any good with all this scaremongering "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi
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IoN GoK issues a 10yr bond paying a coupon at 15.039%, faced with 2 lenders who would you lend to given this scenario?
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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Chaka wrote:Impunity wrote:Spikes wrote:Spikes wrote:Impunity wrote:Gatheuzi wrote:Forwarded as received; KCB MPESA wrote:Dear Customer, KCB M-PESA Soft loan is now Available at 0.5% interest as from Ksh50,000 to 250,000 if intrested Call or text: 0780006999 for more information. Many small timers already left out!  Is it 0.5% pm or per day? Under current abattoir conditions it should be pm. I have not received KCB SMS so far. Me-three. LOL...Truecaller says that 0780006999,belongs to one 'Mwizi Sugu Conman'? Nice catch. I could have ended calling the guy and only God knows what could have followed. Looking keenly at the original message it appears to have been sent from +254 713 873166 (Ruth-as per tru caller) last night. I have blocked and reported. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Elder Joined: 3/2/2009 Posts: 26,331 Location: Masada
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kizee1 wrote:IoN GoK issues a 10yr bond paying a coupon at 15.039%, faced with 2 lenders who would you lend to given this scenario? Jubilee gaament mos def! To think of it, the mwananchi-caring gaament aks jubilee should prevent banks from massively investing into treasury bills and bonds, or atleast restrict them to individual account holders amount which is 20 million. They should know people these banks. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 7/22/2009 Posts: 7,871
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Impunity wrote:kizee1 wrote:IoN GoK issues a 10yr bond paying a coupon at 15.039%, faced with 2 lenders who would you lend to given this scenario? Jubilee gaament mos def! To think of it, the mwananchi-caring gaament aks jubilee should prevent banks from massively investing into treasury bills and bonds, or atleast restrict them to individual account holders amount which is 20 million. They should know people these banks. Do you "individual account holders" have enough money to loan this debt hungry government??? Am sure Kefake cannot believe what he is seeing! These fellows are borrowing like debt is free money!! Let the country be auctioned as we watch. Kukopa harusi... Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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FRM2011 wrote:Realtreaty wrote:Kenya Bank Cap = Brexit Sad Sad d'oh! d'oh!
I feel we screwed ourselves.
Majority of bank users are not borrowers but investors
Uhuru protected these minority borrowers and forgot majority investors who have lost loads of investment. How much has the govt lost in the process?
I do not know where to start in cleaning my house.
When banks are infected the the virus spreads to other investment arms like Industrial, Agric, commercial etc
Now its time Banks closed most of the offices thereby affecting the boom in housing.
A balance must be sorted out soonest.
If firms are getting cheaper loan, why would a company like Ketepa Kenya sell its third grade tea at that high cost? Why would property in land be such speculative and costly
Everything will be coming down, even Education
I can see Salaries dropping.
Remember, Kenyans should not expect Salary reviews next year, in fact be ready for redundancies. Seriously ?? Back to reality. Co-op bank went on the offensive from Saturday by offering to buy loans from other banks. When customers started asking for loan statements from their banks to move to co-op, it was each man for himself. I have just received a message from KCB informing they have officially reduced their rates for new loans. They aren't waiting for the Gazette notice. And get this, they are waiting for CBK to advise on how to handle existing loans. The two largest banks in kenya have implemented the law. Does it matter what sidian does ? Let's drop the scare-mongering. It was never going to work and am glad some of us have been Sat by as much from kitabo. It is the "experts" who have been warning us of a major credit squeeze that we should be worried about. Have you or any one of those unsecured borrowers you know tried to apply for these loans at 14.5% p.a?? Coop was merely pulling a PR stunt that clearly got Wanjiku excited but the only ones who will get credit committee approval for their loan applications at 14.5% p.a. are only those who meet certain criteria. Mark 12:29
Deuteronomy 4:16
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Now KCB security free loan at 14 Percent.
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Rank: Member Joined: 5/4/2015 Posts: 241 Location: Kahno
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@Barclays_Kenya: We have with immediate effect reduced the interest rates applicable for all new loans to 14.5% p.a in line with the new law. 1/2
@Barclays_Kenya: Equally, we have increased interest rates applicable on new Zidisha savings accounts & new term deposits to a minimum rate of 7.35% p.a. 2/2
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Rank: Elder Joined: 3/2/2009 Posts: 26,331 Location: Masada
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kimanimsc wrote:@Barclays_Kenya: We have with immediate effect reduced the interest rates applicable for all new loans to 14.5% p.a in line with the new law. 1/2
@Barclays_Kenya: Equally, we have increased interest rates applicable on new Zidisha savings accounts & new term deposits to a minimum rate of 7.35% p.a. 2/2 Coop and Simba did not mention anything on this, what are they waiting? Postponing pain for nothing, they would rather act now and move on.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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The banks are in denial, they need to include in their announcement the words , for exiting and new loans.
watch this space,,,
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