Guarantly Trust Bank(GTBank) of kenya has announced an interest rate of 14.5%pa on new and existing loans effective September 2016 in a bid to complying with the new banking law.
Read also KCB new interest rates on loans
GTBank joined Barclay's bank,KCB,Cooperative bank and Cfc Stanbic bank in defining the fate of existing loans in regard to the new banking law which requires all registered lenders to charge interest on loans at around 10.5%which is the CBR.
Read the notice from GTBank Kenya;
Read also KCB new interest rates on loans
GTBank joined Barclay's bank,KCB,Cooperative bank and Cfc Stanbic bank in defining the fate of existing loans in regard to the new banking law which requires all registered lenders to charge interest on loans at around 10.5%which is the CBR.
Read the notice from GTBank Kenya;
HAPPY NEW MONTH: In complying with the Banking (Amendment) Act, we have capped the interest rates on all existing and new loans at 14.5% effective September 2016. We look forward to serving you at Guaranty Trust Bank where excellent customer service is our passion.
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