Holiday Time: Borrowing Vs Saving
Saving for a holiday takes time but stands to give the individual better options in the time after the holiday.
KCB Slashes Base Lending Rate
KCB Bank has announced that it will be reducing its base lending rate effective in the new year. In a public statement via the Group’s twitter page, the bank says it will reduce the rate by 200 basis points to 17% down from the current 19%. This announcement has comes…
Bank on Facebook, or Twitter
With advancing technology, lenders are looking for the most convenient ways to get security for loans they give to borrowers. Use of social media profiles by LendUp in the US is an example.
CORRECTED: Barclays Q3 Pre-tax Profits Up 4%
Barclays Bank saw its profit before tax grow 40% in the 3rd quarter of 2012 in a period where banks enjoyed charging high interest rates on new loans borrowed by customers. CBK has since reduced the base lending rate to 11%.
Githae Calls on Banks to Lower Rates Faster
Banks still have their base lending rates at between 18.5% and 22.5% despite the Central Bank lowering the base lending rate (CBR) to 11% beginning of November.
Citibank Cuts Base Lending Rate to 15%
Citibank has lowered its base lending rate to 15% down from 19%, a week after Central Bank lowered the CBR by 200 basis points to 11%. Inflation drop (4.14%) and a stable currency advised CBKs decision.
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