Thursday, September 01, 2016

GTBank sets 14.5pc Interest Rate on New and Existing Loans

    September 01, 2016   No comments

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 of Kenya capped loan interest rate on new and existing loans at 14.5%

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.

Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

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