And when you are already in and having entered at a much lower level?

The new rules requires that banks on top of giving their KBRR+k rate, they will issue the APR (annuall percentage rate) that will now include the negotiation/arrangement fees, valuation,insurance etc for consumers to tell the real cost of money IE Maliza raia bank ltd could have a KBRR 15% and loan arrangement fee of 3% while Fagia mifuko bank ltd might have KBRR 15% BUT nil arrangement fees the APR will now let know u whos expensive.in this case maliza raia bank will be expensive. Stanchart will really command a very low APR COME ON GUYS kudos for stanchart this is one bank moving away from the useless cartel Kenya Bankers Asso. the only bank in Kenya putting a human face to banking Kenyans bank seated in comfy seat while the likes of member, simba, Blacklays and cooopsystem down hurdle Kenyans in 1988 KANU mlolongo quees

Standard Chartered Bank has reduced borrowing rates in the market on three key products. In a return of its annual campaign dubbed "The Grand Sale", Standard Chartered Bank is offering customers mortgages at 10.9 per cent. This is only 1.77 per cent above the Kenya Banks Reference Rate (KBRR). Customers transferring their loans from other providers will not pay legal and valuation fees. The margin of 1.77 per cent on top of KBRR will remain fixed for the duration of the facility for all loans taken up during the campaign period. Other products on offer are personal loans at a rate of as low as 14.9 per cent and business loans against property at 10.9 per cent, which will also not attract legal or valuation fees on balance transfers. Head of Retail Clients Bhartesh Shah said customers can borrow up to Sh100 million to purchase homes and repay in 25 years.

There's nothing to celebrate here.We all know that this KBRR is a gimmick set up by CBK in-conjunction with the banks. They had to be seen to be doing something as it's good PR for all, the banks and government. The biggest beneficiaries will be people who have been hurt by this loans because they are wiser.

All you need to do is stick to the fundamentals, do not take a loan unless you really need it and especially if it's going to increase your business capacity and generate it's repayments.

Is it not surprising that there seem to be no mention of interest on deposits? I don't think so.

What difference does it matter what KBRR is, at the end of the day, you have a mortgage offer at 10.9% which is now the best in the market.

So now its up to you to either take a mortgage at this rate or transfer you current mortgage of 15% from the other bank to stanchart and save 4%.

I think its a damn good move and I will go see them. At 11%, this can only be reducing balance. straight line would be plain stupid to even offer.

@ runner, it's the same and one thing.
@Obi, right decision, these opportunities rarely come.
By the time others realise it might be too late.
@ all, this is best offer, that you are going to see soon in the market. It lapses in the next 43 days, if you have a loan, do a balance transfer.
The loan interest rate will only change as per KBRR, and the treasury will be keen to maintain low rates to ensure credit expansion, a necessity for economic growth.
And always remember that Standard Chartered is not just any other bank, it will always remain Standard chartered.