Equity bank

Kama kuna majamaa wanafanya kazi ama vivogo wa benki ya Equity tebu kujeni hapa… Give us your inside story.
Most of the banks have already capped their interest rates, nyinyi mnangoja nini?

Kuwakamua until the law is gazetted, mbona hamchukui cheap loans from other banks and pay off the first?

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Wanangalia kama kuna loopholes kwa law ili wawakamue proper…Hama mapema buda.

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Bank gani imeshukisha to @Okiya’s 12. 9% nihamie uko?

Ekwity siwes gusa hata na 10 foot pole.

kwa nini na vile naplan kuwaendea…hebu elimisako mimi

Hapa naona ni kama tumecheswa pia. Banks will probably shift to straight-line/ flat rate mode of charging interest in place of reducing balance method. Whats the difference between 18% reducing balance and 12.9% flat rate?

If you take a 1 yr loan loan of Kshs 100,000 at 18% reducing balance you pay Kshs 110,000
If you take a 1 year loan of Kshs 100,000 at 12.9% flat rate you pay Kshs 112,900

I remember sometime back telling people that the loans that Faulu were giving at 12% flat rate were more expensive

In conclusion, If a bank tells you that they are giving you a a flat interest rate of 12.9%, that is exactly same as a bank that tells you they will give reducing balance interest of 23%


Yaani the flat rate, despite being lower, is actually more expensive, right? Now, what’s to stop banks from shifting to that to retain their insanely high profits? Hapo ndipo naona tukicheswa.:frowning:

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Yes, flat rate is more expensive. If a bank gives you a flat rate interest, to get the true rate just multiply it by 2


Hizi rates were made constant coz of the banks evilness of hiking rates without considerations.with a flat rate of 12.5 0r 14.5 ur safer than a non fixed rate.

The bone of contention now will be whether they go for 12.5 or 14.5 flat rate or same percentage reducing balance. Wakiamua flat rate iko chida.

Same percentage reducing balance. Everybody knows that a 14.5% flat rate fee is way more expensive than even a 20% loan on reducing balance. CBK are not fools

They should use the method that CBK uses to lend them.

Dr. Mwangi anasema where the law is silent it means consent for the bank to shaft you.

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Hapa sasa ni kunyonywa kabisaa

[ATTACH=full]56720[/ATTACH] CBA pegs their rate to 12.9 saa huku is it at reducing balance or flat rate