Two weeks ago, I approached staffs of one of the Barclays bank branches in Nairobi seeking assistance on how to purchase treasury bills. They informed me about a fixed deposit account offering interest at 16% p.a. I decided to try this account. This week I received a certificate from the bank stating that my money has been deposited at an interest rate of 9% p.a!!!!!!!!!!!!

you dint fill any forms when you transfered the money? ama you trusted their word? i've learnt the hard way that bank staff lie to meet the banks targets and make no apologies later

when a bank resorts to duping its customers, then it is time to take a walk....

never trust bankers and Lawyers .so when they told you 16% you should have Read it somewhere on the contract way before you put the signature. Don't use hearsay statements. After you sign it becomes a legal document and ask for your copy .I would have done the same

The ones I have seen always writes that you only forfeit the interest.

Pole for your plight.Not to sound insensitive but didnt you read when you were signing the papers?How do you sweat for money then give it all away to someone for 9% instead of 16%??

As for loans,always ask for the effective rate and all associated charges using an absolute loan amount figure.Do the math together and dont just listen to what sales people tell you.

Or he walks to the Nation centre and create a scene.

i donot feel for you.there were no papers you signed showing you would be getting 16% p.a ?

9% pa, bado iko na w/holding tax watanyowa for Uhuruto to 'manage' for you!!!!!

yes. I have learnt my lesson the hard way. six months is not a very long time. by then, I hope the stocks would have bottomed