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Which bank or Sacco in Kenya has the best loans and deposit rates?
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MBAFRC7
#1 Posted : Sunday, June 10, 2012 2:53:18 AM
Rank: Hello


Joined: 6/10/2012
Posts: 3
Hello members,
I am looking to build a few rental houses on a plot I have, and for this, I have two questions:

1.Which is the best bank/Sacco for borrowing for this purpose? Right now, am not a member of any SACCO.

2. I need to invest some money also in the best deposit bank/institution in Kenya..any ideas which has the best interest rates?
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chiaroscuro
#2 Posted : Monday, June 11, 2012 9:09:34 AM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Welcome to wazua...

SACCOs charge around 12%pa... but you need to have been a member for at least 6 months and you also need to know other members to guarantee your loan. Generally you'll get three time your investment and pay back in 36 months.

Money-market funds operated by Unit Trusts offer quite decent returns - some even higher that CBK's T-bills. Most insurance companies have them so pick up the phone and start calling. Also check the business pages of daily newspapers [the page where stocks are listed] to see which MMF has the highest rate.
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Kaka M
#3 Posted : Monday, June 11, 2012 1:41:28 PM
Rank: Member


Joined: 4/18/2011
Posts: 459
MBAFRC7 wrote:
Hello members,
I am looking to build a few rental houses on a plot I have, and for this, I have two questions:

1.Which is the best bank/Sacco for borrowing for this purpose? Right now, am not a member of any SACCO.

2. I need to invest some money also in the best deposit bank/institution in Kenya..any ideas which has the best interest rates?



The best Sacco changes from one person to the other reason being that where u know most people who can guarantee your loans would be the best Sacco to join. As for who is offering the best interest rates, I have seen Wazuans talking about DTB or small banks eg I & M, Family, Fina it may be a good idea to also consider avenues eg Unit trust like @Chiascuro has mentioned.
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Thiong'o
#4 Posted : Monday, June 11, 2012 4:02:45 PM
Rank: Member


Joined: 10/14/2011
Posts: 661
Kaka M wrote:
MBAFRC7 wrote:
Hello members,
I am looking to build a few rental houses on a plot I have, and for this, I have two questions:

1.Which is the best bank/Sacco for borrowing for this purpose? Right now, am not a member of any SACCO.

2. I need to invest some money also in the best deposit bank/institution in Kenya..any ideas which has the best interest rates?



The best Sacco changes from one person to the other reason being that where u know most people who can guarantee your loans would be the best Sacco to join. As for who is offering the best interest rates, I have seen Wazuans talking about DTB or small banks eg I & M, Family, Fina it may be a good idea to also consider avenues eg Unit trust like @Chiascuro has mentioned.


@MBAFRC7, you can get a loan here at 13%
http://www.nhckenya.co.ke/
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MBAFRC7
#5 Posted : Tuesday, June 12, 2012 4:21:04 AM
Rank: Hello


Joined: 6/10/2012
Posts: 3
Thanks all for the guidance...however @ Thiong'o, NHC does not loan people money to build houses for rental houses. They seem to be more concerned with owner occupied housing.

Any other ideas will be appreciated.
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Thiong'o
#6 Posted : Tuesday, June 12, 2012 9:11:55 PM
Rank: Member


Joined: 10/14/2011
Posts: 661
MBAFRC7 wrote:
Thanks all for the guidance...however @ Thiong'o, NHC does not loan people money to build houses for rental houses. They seem to be more concerned with owner occupied housing.

Any other ideas will be appreciated.


@MBAFRC7, other ideas.
KUSCCO
http://wazua.co.ke/forum.aspx?g=posts&t=17557
and SCB @16.9%
http://www.standardchart...loans/mortgage-loan/en/

smile
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hobbit
#7 Posted : Thursday, June 21, 2012 9:35:09 PM
Rank: New-farer


Joined: 5/25/2011
Posts: 88
See this thread.....

It will assist you..

http://wazua.co.ke/forum.aspx?g=posts&t=9596
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