Nipate

Forum => Kenya Discussion => Topic started by: Omollo on September 28, 2015, 03:14:11 PM

Title: Pundit Are these Lousy Rates Accurate?
Post by: Omollo on September 28, 2015, 03:14:11 PM

I want to assume there is a mistake somewhere. My relations with Kenyan banks is the use of their ATMs. I stopped transferring money through them when they started stealing most of it in the name of low exchange rates (far too low) and charges God only knows what for. So I transfer money using the many money transfer services.

So I start reading this story you had about Treasury Bonds for Wanjiku and I come over this:

Quote

Banks currently give only 1.37 per cent for the money kept in savings accounts.

I get shocked! I decide it must be a typo. So I start digging in my hole and soon go to this:

http://www.kcbbank.com/rates.aspx


(http://omollosview.com/wp-content/uploads/2015/09/Bank-interest-rates.jpg)

Title: Re: Pundit Are these Lousy Rates Accurate?
Post by: RV Pundit on September 28, 2015, 06:32:30 PM

Meanwhile I read gov are offering 14% to the same banks.

Title: Re: Pundit Are these Lousy Rates Accurate?
Post by: Georgesoros on September 28, 2015, 07:11:50 PM

Am I going blind?
I thought the rates were 12%.
Why are they charging 20% for loans then?
Omollo, are you sure these are not Bank of America rates? Kenya doesn't have IRA (individual retirement account)