{"id":101263,"date":"2024-11-05T07:03:15","date_gmt":"2024-11-05T07:03:15","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/11\/05\/cbk-data-reveals-lenders-with-highest-interest-charges\/"},"modified":"2024-11-05T07:03:15","modified_gmt":"2024-11-05T07:03:15","slug":"cbk-data-reveals-lenders-with-highest-interest-charges","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/cbk-data-reveals-lenders-with-highest-interest-charges\/","title":{"rendered":"CBK data reveals lenders with highest interest charges"},"content":{"rendered":"

Premier Bank offers the cheapest credit at a flat rate of 9pc for all categories of loans, according to the latest data from the Central Bank of Kenya (CBK).<\/strong><\/p>\n

The data further indicates that Co-operative Bank of Kenya is the go-to bank if you are looking for a cheap overdraft among the largest banks in Kenya, pricing its loan at nearly half when compared to the most expensive peer.<\/p>\n

CBK has been compiling the lending rate for commercial banks since July this year.<\/p>\n

This is the second month in a row that Co-operative Bank of Kenya has beat peers in offering the lowest overdrafts.<\/p>\n

If you are looking for an overdraft repayable in less than a year, Co-operative Bank of Kenya charges 11.05pc while NCBA charges 20.66pc.<\/p>\n

Overall, the CBK data shows that Co-op Bank charged a mean interest rate of 14.88pc as compared to Absa Bank\u2019s 20.02pc.<\/p>\n

On average, the data indicates that Co-op Bank ranks seventh overall in pricing of loans.<\/p>\n

Premier Bank offers the cheapest credit at a flat rate of 9pc for all loans, followed by Access Bank at 11.42pc and Diamond Trust Bank at 12.44pc.<\/p>\n

The banking regulator says six banks have priced their loans above 20pct.<\/p>\n

The most expensive commercial banks to borrow a loan are Middle East Bank which charges 21.52pct, HFC at 20.5pc, Credit Bank at 20.25pc and Absa Bank Kenya at 20.02pc.<\/p>\n

The post CBK data reveals lenders with highest interest charges<\/a> first appeared on KBC<\/a>.<\/p>\n

The post CBK data reveals lenders with highest interest charges<\/a> appeared first on KBC<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Premier Bank offers the cheapest credit at a flat rate of 9pc for all categories of loans, according to the latest data from the Central Bank of Kenya (CBK). The data further indicates that Co-operative Bank of Kenya is the go-to bank if you are looking for a cheap overdraft among the largest banks in […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-101263","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/101263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=101263"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/101263\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=101263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=101263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=101263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}