Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Saturday, Jul 21, 2018
Market
To contribute to these and use other features, please register.
LATEST DISCUSSIONS
hackers in safaricom? [24]
Water tank level indicator/meter [18]
Ubapesa [77]
Disruptive technologies and innovation [145]
Cost of Paving blocks [32]
Ridgeways mall [32]
Online writing jobs in Kenya [5]
Watamu 12 Acres Next to Arabuko Sukoke [3]
selling my 50 acres in Mailua KAJIADO [15]
seresell.co.ke is a great place to buy &, sell! [1]
Serepark in Kisaju, Kenya. [1]
How did you make your first Kes million? [319]
Optiven Enterprises - Anybody know about this comp... [24]
Jambojet n Delays [3]
CFA LEVEL 1 Qbanks and shweser notes 2018 [1]
 
Forum Jump


Welcome Guest Search | Active Topics | Log In | Register

2 Pages12>
Which bank is offering the cheapest personal loans
Mambokesho
#1 Posted : Wednesday, March 14, 2012 1:38:41 PM
Rank: New-farer


Joined: 5/10/2010
Posts: 28
Location: kenya
Friends,
looking for a bank loan, but it seems that interest rates have sky rocketed with some banks at 26%. What are your banks offering?
Kaka M
#2 Posted : Saturday, March 17, 2012 12:08:03 PM
Rank: Member


Joined: 4/18/2011
Posts: 459
Someone I know from Stanchart called me this week telling that they are offering at 19 point something.
butterflyke
#3 Posted : Saturday, March 17, 2012 4:23:29 PM
Rank: Elder


Joined: 5/1/2010
Posts: 3,024
Location: Hapa
my peni mbili: there's nothing such as cheap/cheapest personal loans.....banks usually ambush you later
Float like a butterfly, sting like a bee. - Muhammad Ali🐝
groupielove
#4 Posted : Wednesday, March 21, 2012 1:24:21 PM
Rank: Member


Joined: 6/21/2010
Posts: 119
Location: Nairobi
Depends whether it is secured, unsecured, morgage or what kind of loan you are looking for. Unsecured loan ya Equity is 24% currently
Gathige
#5 Posted : Wednesday, March 21, 2012 1:48:01 PM
Rank: Veteran


Joined: 3/29/2011
Posts: 1,834
KCB at 23% unsecured
"Things that matter most must never be at the mercy of things that matter least." Goethe
kyt
#6 Posted : Wednesday, March 21, 2012 1:50:38 PM
Rank: Elder


Joined: 11/7/2007
Posts: 2,182
Gathige wrote:
KCB at 23% unsecured

boss the last i checked kcb was at 27% coop has 25
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
kyt
#7 Posted : Wednesday, March 21, 2012 1:55:19 PM
Rank: Elder


Joined: 11/7/2007
Posts: 2,182
BBK at 18.9% for some "special loans"-whatever that means!!!
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
seeker*
#8 Posted : Monday, March 26, 2012 4:41:14 PM
Rank: Member


Joined: 9/11/2009
Posts: 132
Location: nairobi
kyt wrote:
BBK at 18.9% for some "special loans"-whatever that means!!!


seconded.
and if you wait abit longer,you might get a better deal since it seems interest rates are going down.
Don't fight a battle if you gain nothing by winning.” Erwin Rommel
When I was a child, I spoke like a child, thought like a child, and reasoned like a child. When I became an adult, I no longer used childish ways.
shygal
#9 Posted : Friday, March 30, 2012 4:45:49 PM
Rank: New-farer


Joined: 12/31/2011
Posts: 90
What about secured loans, what are the interests?
njeriwanjoroge
#10 Posted : Friday, April 20, 2012 11:07:01 AM
Rank: Hello


Joined: 4/20/2012
Posts: 1
seeker* wrote:
kyt wrote:
BBK at 18.9% for some "special loans"-whatever that means!!!


seconded.
and if you wait abit longer,you might get a better deal since it seems interest rates are going down.


Not reaaly...insider informarion is that rates will be going up again till after elections
josimar
#11 Posted : Wednesday, December 04, 2013 10:29:41 AM
Rank: Member


Joined: 7/6/2010
Posts: 242
WSR over the weekend lambasted banks for slowing Kenya's economic growth by offering high interest rates , at the moment Stanchart has a 'SALE' of 15.9 % , does anyone foresee the rates going down ama tungoje 2014..? Opinions tafadhali.
Gathige
#12 Posted : Wednesday, December 04, 2013 10:46:33 AM
Rank: Veteran


Joined: 3/29/2011
Posts: 1,834
josimar wrote:
WSR over the weekend lambasted banks for slowing Kenya's economic growth by offering high interest rates , at the moment Stanchart has a 'SALE' of 15.9 % , does anyone foresee the rates going down ama tungoje 2014..? Opinions tafadhali.


@Josimar, Never trust bank's marketing hype when it comes to loans. Its best to check with them directly to confirm.
"Things that matter most must never be at the mercy of things that matter least." Goethe
Gathige
#13 Posted : Wednesday, December 04, 2013 11:05:52 AM
Rank: Veteran


Joined: 3/29/2011
Posts: 1,834
Rafiki DTM at 19.5% reducing balance. Requirements minimal
"Things that matter most must never be at the mercy of things that matter least." Goethe
Gordon Gekko
#14 Posted : Wednesday, December 04, 2013 2:13:13 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
josimar wrote:
WSR over the weekend lambasted banks for slowing Kenya's economic growth by offering high interest rates , at the moment Stanchart has a 'SALE' of 15.9 % , does anyone foresee the rates going down ama tungoje 2014..? Opinions tafadhali.


Sranchart T&C Apply. To get this rate you must:
- Open an account
- Channel your salary into this account (meaning no hustlers allowed)
- Take out their credit card.....
thuks
#15 Posted : Saturday, January 18, 2014 3:20:41 PM
Rank: Veteran


Joined: 10/8/2008
Posts: 1,391
Gordon Gekko wrote:
josimar wrote:
WSR over the weekend lambasted banks for slowing Kenya's economic growth by offering high interest rates , at the moment Stanchart has a 'SALE' of 15.9 % , does anyone foresee the rates going down ama tungoje 2014..? Opinions tafadhali.


Sranchart T&C Apply. To get this rate you must:
- Open an account
- Channel your salary into this account (meaning no hustlers allowed)
- Take out their credit card.....


Why are they so pushy about these credit cards? Is it the annual membership fee they are after?
I care!
matatuman
#16 Posted : Saturday, January 18, 2014 8:34:00 PM
Rank: Member


Joined: 12/5/2013
Posts: 224
thuks wrote:
Gordon Gekko wrote:
josimar wrote:
WSR over the weekend lambasted banks for slowing Kenya's economic growth by offering high interest rates , at the moment Stanchart has a 'SALE' of 15.9 % , does anyone foresee the rates going down ama tungoje 2014..? Opinions tafadhali.


Sranchart T&C Apply. To get this rate you must:
- Open an account
- Channel your salary into this account (meaning no hustlers allowed)
- Take out their credit card.....


Why are they so pushy about these credit cards? Is it the annual membership fee they are after?



Because cards are more profitable than loans. Most people lack discipline so they tend to revolve their card balances i.e. they only pay the minimum amount due. Interest on cards is 3.5% per month so in a year it works out to 42%. Cards are good though if you got financial discipline. You can use them without ever paying interest and you get rid of the the supermarket guyz telling you they dont have coins.
Shak
#17 Posted : Sunday, January 19, 2014 8:58:35 AM
Rank: Elder


Joined: 2/22/2009
Posts: 2,181
Location: Africa
Faulu is offering loans to public servants, teachers and members of the disciplined force at 12pc per annum. Maximum loan is 3million
bird_man
#18 Posted : Sunday, January 19, 2014 10:44:21 AM
Rank: Veteran


Joined: 11/2/2006
Posts: 1,191
Location: Nairobi
Shak wrote:
Faulu is offering loans to public servants, teachers and members of the disciplined force at 12pc per annum. Maximum loan is 3million


Is that 12% reducing balance or compounded interest?If it is compounded that roughly works out to (12%*2)+1=25% per annum.
Most MFIs are marketing at low rates like Saccos but once you take the loan you realise that its Compounded interest.
Formally employed people often live their employers' dream & forget about their own.
webish
#19 Posted : Sunday, January 19, 2014 4:03:02 PM
Rank: Member


Joined: 10/19/2009
Posts: 666
Location: Nairobi
bird_man wrote:
Shak wrote:
Faulu is offering loans to public servants, teachers and members of the disciplined force at 12pc per annum. Maximum loan is 3million


Is that 12% reducing balance or compounded interest?If it is compounded that roughly works out to (12%*2)+1=25% per annum.
Most MFIs are marketing at low rates like Saccos but once you take the loan you realise that its Compounded interest.


Very true on the "compound/reducing interest"...
Mind explaining your compound interest formula used above?

Life is joy, death is peace, but the transition is very difficult.
bird_man
#20 Posted : Monday, January 20, 2014 8:59:05 AM
Rank: Veteran


Joined: 11/2/2006
Posts: 1,191
Location: Nairobi
webish wrote:
bird_man wrote:
Shak wrote:
Faulu is offering loans to public servants, teachers and members of the disciplined force at 12pc per annum. Maximum loan is 3million


Is that 12% reducing balance or compounded interest?If it is compounded that roughly works out to (12%*2)+1=25% per annum.
Most MFIs are marketing at low rates like Saccos but once you take the loan you realise that its Compounded interest.


Very true on the "compound/reducing interest"...
Mind explaining your compound interest formula used above?


@webish...sorry thats just my "estimate formula".
12% compounded loan interest actually works out to about 24.3% on reducing balance method.
That is why these guys can say Interest on Savings is 12%p.a & Interest on loans is 12%p.a.Unless you are in the charity/NGO kind of business,that has to be compound interest on the loan.
Formally employed people often live their employers' dream & forget about their own.
Users browsing this topic
Guest
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2018 Wazua.co.ke. All Rights Reserved.