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Law Capping interest rates
Rank: Elder Joined: 5/1/2010 Posts: 3,024 Location: Hapa
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Hawkers!! Quote:Further to the new developments in our lending framework, we can now confirm that you can get an unsecured facility with us ( Barclays Bank of Kenya) for 14.5% interest on reducing balance and interest on savings account of 7.3% p.a. Should you wish to take advantage of this window of opportunity, ( based on fluidity and credit risk, it may move to secured propositions and collateral secured lending) to access affordable funding for your projects. If Obiero did it, Who Am I?
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Swenani wrote:Hawkers!! Quote:Further to the new developments in our lending framework, we can now confirm that you can get an unsecured facility with us ( Barclays Bank of Kenya) for 14.5% interest on reducing balance and interest on savings account of 7.3% p.a. Should you wish to take advantage of this window of opportunity, ( based on fluidity and credit risk, it may move to secured propositions and collateral secured lending) to access affordable funding for your projects. If they offer loan at reducing balances,it's only fair to offer the 7.36% savings account on a compound interest compounded daily. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Kwani you want to kill them
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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streetwise wrote:Kwani you want to kill them It's our time to eat. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 4/23/2014 Posts: 909
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Is it true that CBK has issued notice giving banks & mortgage companies until September 14th to fully implement the Banking Act 2016. “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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HaMaina wrote:Is it true that CBK has issued notice giving banks & mortgage companies until September 14th to fully implement the Banking Act 2016. http://www.businessdaily...365534-lkln7n/index.html
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Kameumana sasa. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Negwo mani.. Kumethoka
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 5/23/2016 Posts: 19
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obiero wrote:[quote=HaMaina]Is it true that CBK has issued notice giving banks & mortgage companies until September 14th to fully implement the Banking Act 2016. http://www.businessdaily...65534-lkln7n/index.html[/quote] Did they have to wait for this?
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Rank: New-farer Joined: 3/12/2014 Posts: 96
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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There is no need for notice when one bank is already advertising that they can buy other banks loans. Fall in line is the word
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Dkt Mwangi shall be jailed http://www.businessdaily...item-1-o2ftg7/index.html
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 8/17/2007 Posts: 294
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obiero wrote:karete wrote:[quote=obiero][quote=HaMaina]Is it true that CBK has issued notice giving banks & mortgage companies until September 14th to fully implement the Banking Act 2016. http://www.businessdaily...65534-lkln7n/index.html[/quote] Did they have to wait for this? Dkt Mwangi shall be jailed http://www.businessdaily...tem-1-o2ftg7/index.html[/quote] bado hajaamini
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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CBK giving zero direction in this matter. How can a 1 year loan and a 7 year loan both cost 14.5%? Also, what is the formula to calculate CBR or is it an arbitrary rate? Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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KulaRaha wrote:CBK giving zero direction in this matter.
How can a 1 year loan and a 7 year loan both cost 14.5%?
Also, what is the formula to calculate CBR or is it an arbitrary rate? The 14.5 percent is per annum.. Nothing confused about CBK on the matter
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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KulaRaha wrote:CBK giving zero direction in this matter.
How can a 1 year loan and a 7 year loan both cost 14.5%?
Also, what is the formula to calculate CBR or is it an arbitrary rate? The 14.5 percent is per annum.. Nothing confused about CBK on the matter
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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KulaRaha wrote:CBK giving zero direction in this matter.
How can a 1 year loan and a 7 year loan both cost 14.5%?
Also, what is the formula to calculate CBR or is it an arbitrary rate? The 14.5 percent is per annum.. Nothing confused about CBK on the matter
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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obiero wrote:KulaRaha wrote:CBK giving zero direction in this matter.
How can a 1 year loan and a 7 year loan both cost 14.5%?
Also, what is the formula to calculate CBR or is it an arbitrary rate? The 14.5 percent is per annum.. Nothing confused about CBK on the matter So yield curve is flat regardless of tenor? Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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KulaRaha wrote:obiero wrote:KulaRaha wrote:CBK giving zero direction in this matter.
How can a 1 year loan and a 7 year loan both cost 14.5%?
Also, what is the formula to calculate CBR or is it an arbitrary rate? The 14.5 percent is per annum.. Nothing confused about CBK on the matter So yield curve is flat regardless of tenor? Yes. It is, though on reducing balance. Ideally longer tenors should have higher rates but this shall be where banks will punish consumers by maxing all product lines at the very top. Plus the CBR is subject to fluctuations. So in year 1 one may pay 14.5 but in year 2 the same could change to 23 percent. It's now in the hands of government
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Law Capping interest rates
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