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Best intrest rates - need like 1.5m
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zakayoo
#1 Posted : Thursday, February 05, 2015 12:31:37 AM
Rank: New-farer

Joined: 6/27/2014
Posts: 19
Location: kenya
wazuans which bank or institution has best interest rates ineed like 1.5m,my employer is goverment of kenya

thankx
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  | | Edit by moderator: Thursday, February 05, 2015 5:22 PM | Reason: title clarified; right section
Swenani
#2 Posted : Thursday, February 05, 2015 6:17:51 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
zakayoo wrote:
wazuans which bank or institution has best interest rates ineed like 1.5m,my employer is goverment of kenya

thankx


Central bank KBRR is currently at aprox 8
If Obiero did it, Who Am I?
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Boris Boyka
#3 Posted : Thursday, February 05, 2015 4:49:06 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
zakayoo wrote:
wazuans which bank or institution has best interest rates ineed like 1.5m,my employer is goverment of kenya

thankx

walk into Equity,coop,kcb,barclays,stanchart,nic....in each ask for % of interest,processing fee,insurance fee. ask for the loan brochure enda nyumbani kaa chini and analyse all of them especially on instalments;some banks differ in instalments at the same rate and time!! You may enjoy lower intrest if your salary acc is in that bank o/w utapewa at higher rate.
1. Take an avg loan for short period:
- No wastage of funds
-Low total intrest payed.
-You can take more loan in small bits as opposed to a long period.
-Short recovery period esp incase of loss
* The opposite is true for large loan long period.
Wish you well
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Minor Mullah
#4 Posted : Friday, February 06, 2015 4:14:17 PM
Rank: New-farer

Joined: 1/21/2015
Posts: 10
Location: Nairobi
Has the KBR rate kicked in?
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zakayoo
#5 Posted : Tuesday, March 24, 2015 3:50:23 PM
Rank: New-farer

Joined: 6/27/2014
Posts: 19
Location: kenya
Thankx all.KBRR nini
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jomari78
#6 Posted : Tuesday, March 24, 2015 4:29:24 PM
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Joined: 11/24/2013
Posts: 14
Though this may not be helpful to you in the short term, or maybe I'm speaking to the converted; being in govt myself, I always tell my younger colleagues to join the many highly reputable Sacco's that cater to govt employees & contribute meaningful amounts each month. You'd easily get that loan at 12% per annum or 1% per month, fixed rate without all those extortionate fees that banks levy, plus enjoy the benefit of dividends.
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Swenani
#7 Posted : Tuesday, March 24, 2015 4:34:05 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
zakayoo wrote:
Thankx all.KBRR nini

Kenya Bureau reference of retirees
If Obiero did it, Who Am I?
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Boris Boyka
#8 Posted : Tuesday, March 24, 2015 5:13:51 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
jomari78 wrote:
Though this may not be helpful to you in the short term, or maybe I'm speaking to the converted; being in govt myself, I always tell my younger colleagues to join the many highly reputable Sacco's that cater to govt employees & contribute meaningful amounts each month. You'd easily get that loan at 12% per annum or 1% per month, fixed rate without all those extortionate fees that banks levy, plus enjoy the benefit of dividends.

Applause Applause Applause So long as you make cash join a sacco either contribute through check off or individual contributor. Lots of benefit. Am not sure of the law that said "you can only be in one sacco at a time" but seen ppl being in two saccos...Join two saccos
If you are on payslip you can obtain a payslip loan from one sacco and another loan from the other where you contribute shares through direct deposit....This means you have a huge cheaper loan and can pay using payslip remnants and side hassles while getting 6-11% on your deposits unlike for a bank where you have to prove your worth.......and get an expensive loan.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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mawinder
#9 Posted : Tuesday, March 24, 2015 5:25:36 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Boris Boyka wrote:
jomari78 wrote:
Though this may not be helpful to you in the short term, or maybe I'm speaking to the converted; being in govt myself, I always tell my younger colleagues to join the many highly reputable Sacco's that cater to govt employees & contribute meaningful amounts each month. You'd easily get that loan at 12% per annum or 1% per month, fixed rate without all those extortionate fees that banks levy, plus enjoy the benefit of dividends.

Applause Applause Applause So long as you make cash join a sacco either contribute through check off or individual contributor. Lots of benefit. Am not sure of the law that said "you can only be in one sacco at a time" but seen ppl being in two saccos...Join two saccos
If you are on payslip you can obtain a payslip loan from one sacco and another loan from the other where you contribute shares through direct deposit....This means you have a huge cheaper loan and can pay using payslip remnants and side hassles while getting 6-11% on your deposits unlike for a bank where you have to prove your worth.......and get an expensive loan.

SACCO is way expensive than bank loans.Add issue of guarantors and long turn around times.Will never join a Sacco so that I can get a loan!!!!!!!!!
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Boris Boyka
#10 Posted : Tuesday, March 24, 2015 5:40:21 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
mawinder wrote:
Boris Boyka wrote:
jomari78 wrote:
Though this may not be helpful to you in the short term, or maybe I'm speaking to the converted; being in govt myself, I always tell my younger colleagues to join the many highly reputable Sacco's that cater to govt employees & contribute meaningful amounts each month. You'd easily get that loan at 12% per annum or 1% per month, fixed rate without all those extortionate fees that banks levy, plus enjoy the benefit of dividends.

Applause Applause Applause So long as you make cash join a sacco either contribute through check off or individual contributor. Lots of benefit. Am not sure of the law that said "you can only be in one sacco at a time" but seen ppl being in two saccos...Join two saccos
If you are on payslip you can obtain a payslip loan from one sacco and another loan from the other where you contribute shares through direct deposit....This means you have a huge cheaper loan and can pay using payslip remnants and side hassles while getting 6-11% on your deposits unlike for a bank where you have to prove your worth.......and get an expensive loan.

SACCO is way expensive than bank loans.Add issue of guarantors and long turn around times.Will never join a Sacco so that I can get a loan!!!!!!!!!

Expensive??how? What i know there are various loan categories...so am talking of normal loan 12% reducing balance. what are bank rates? Guarantors are your friends in the sacco and ni small time unless wewe ni mang'aa tu. Take your time and make the calculations and benefits utaona. I already did so. Saccos too allow early repayment. Am sure you were in HARAMBEE sacco that one was bogus...n beurocratic with lots of corruption. Brother look for afriend who's been in a saacco akueleze polepole.
1. A bank loan @ 16% p.a (minimum)
2. Sacco loan @ 12% p.a
if you take lets say 1M the diff in intrest paid will be in 200k-300k.
Imagine having money in MMF giving 6-11% and can't get cheaper loan on it when you can have the 6-11% from sacco and borrow cheaper loan at 3times. In a sacco you are using ppls shares as security for your loan!
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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  | | Edit by user: Tuesday, March 24, 2015 5:46 PM | Reason: Not specified
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