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Law Capping interest rates
Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Mshwari under sieke on Twitter.....will they survive? Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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KulaRaha wrote:Mshwari under sieke on Twitter.....will they survive? They will. Equity has just announced that over and above the interest rate, there is an appraisal fee based on the tenor of the loan.
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Rank: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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FRM2011 wrote:KulaRaha wrote:Mshwari under sieke on Twitter.....will they survive? They will. Equity has just announced that over and above the interest rate, there is an appraisal fee based on the tenor of the loan. Hahahaha next up KCB-MPesa...
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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FRM2011 wrote:KulaRaha wrote:Mshwari under sieke on Twitter.....will they survive? They will. Equity has just announced that over and above the interest rate, there is an appraisal fee based on the tenor of the loan. The thing is either way you look at it....it will still be cheaper than what they were charging before the cap. possunt quia posse videntur
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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watesh wrote:FRM2011 wrote:KulaRaha wrote:Mshwari under sieke on Twitter.....will they survive? They will. Equity has just announced that over and above the interest rate, there is an appraisal fee based on the tenor of the loan. Hahahaha next up KCB-MPesa... KCBMpesa actually has stopped lending while Equity has reduced loan limits. Formally employed people often live their employers' dream & forget about their own.
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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bird_man wrote:watesh wrote:FRM2011 wrote:KulaRaha wrote:Mshwari under sieke on Twitter.....will they survive? They will. Equity has just announced that over and above the interest rate, there is an appraisal fee based on the tenor of the loan. Hahahaha next up KCB-MPesa... KCBMpesa actually has stopped lending while Equity has reduced loan limits. M-shwari with their high rates will continue to dominate, they knoe guys who take the loans take them because they need the money immediately and are in need, you can actually ask for an mshwari loan while a supermarket cashier is scanning your goods and get it by the time they ask you to pay, KCB is a kujaribu, most guys try KCB first it takes so long that they end up going to mshwari, equity is another story, you need either a dual sim phone or a separate phone, for withdrawal I see most guys sending the loan cash from their equitel to saf and withdraw from mpesa. For most kenyans mobile loans are not about cost but accessibility To Each His Own
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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kayhara wrote:bird_man wrote:watesh wrote:FRM2011 wrote:KulaRaha wrote:Mshwari under sieke on Twitter.....will they survive? They will. Equity has just announced that over and above the interest rate, there is an appraisal fee based on the tenor of the loan. Hahahaha next up KCB-MPesa... KCBMpesa actually has stopped lending while Equity has reduced loan limits. M-shwari with their high rates will continue to dominate, they knoe guys who take the loans take them because they need the money immediately and are in need, you can actually ask for an mshwari loan while a supermarket cashier is scanning your goods and get it by the time they ask you to pay, KCB is a kujaribu, most guys try KCB first it takes so long that they end up going to mshwari, equity is another story, you need either a dual sim phone or a separate phone, for withdrawal I see most guys sending the loan cash from their equitel to saf and withdraw from mpesa. For most kenyans mobile loans are not about cost but accessibility Spot on!For Equity I was told I need a new sim and I dont have a dual sim phone.KCB I requested on Friday na sijapata bado!I once almost got listed after my 2K disappeared after a loan repayment. I got into an argument with them saying Safcom had not sent the money to them...meanwhile I was getting threatening calls.I'd rather MShwari...more predictable and accessible. Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 2/22/2009 Posts: 2,449 Location: Africa
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bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? That's funny. Just checked mine and both my easy plus and easy loan limits have increased
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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Shak wrote:bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? That's funny. Just checked mine and both my easy plus and easy loan limits have increased Strange.For easy loan I had a limit of 30K last week, dont know what happened. Anyway lets watch. Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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bird_man wrote:Shak wrote:bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? That's funny. Just checked mine and both my easy plus and easy loan limits have increased Strange.For easy loan I had a limit of 30K last week, dont know what happened. Anyway lets watch. How will they make money to pay me 7.35 % deposit? These banks are just throwing tantrums, they will come back begging. No more time for vampires punda amecheka
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 7/17/2008 Posts: 478 Location: Old Trafford
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Can't get any juicier if this is legit..'CBK lowers CBR to 10% on concerns of slowdown in private sector credit; pledges to continue monitoring impact of interest cap law.' Wanjiku smiling all the way to the bank.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Impunity wrote:bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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guru267 wrote:Impunity wrote:bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... Banks are going to shed off some employees to cut costs.
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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guru267 wrote:Impunity wrote:bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... The Act will be reversed...perhaps after elections.It's very good for employees with high salaries and structured business. Mama mboga and the likes cannot meet eligibility criteria anymore. Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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bird_man wrote:guru267 wrote:Impunity wrote:bird_man wrote:Impunity wrote:bird_man wrote:So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... The Act will be reversed...perhaps after elections.It's very good for employees with high salaries and structured business. Mama mboga and the likes cannot meet eligibility criteria anymore. With UK and WSR in power this thing will never be reversed... possunt quia posse videntur
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Rank: Veteran Joined: 11/11/2006 Posts: 971 Location: Home
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Quote:GetIT411: CBK cuts CBR rate to 10pc in move likely to further push more banks to lower interests to 14pc in line with the new law. www.capitalfm.co.ke
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Rank: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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CBR has been lowered. Another hit in the nuts for the banks....
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