Finding affordable loan is no easy work. Complicated numbers, frightening fine print and an unpredictable market can give you a head ache. So why muddy up your financial future? Here are five banks to avoid when seeking a loan.
Rafiki Microfinance: If you are looking for a mortgage, it may be wise to look elsewhere. Rafiki has extremely high rates for individual mortgages, coming in at around 20.41% rate.
Barclays: If asset finance is your game, then you don’t stand much of a sporting chance by taking a loan with Barclays. Consumer loans also aren’t looking too promising, with Barclays ranked the most expensive out of major bank branches in Kenya.
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Remu Microfinance: Starting a small business is one of the most difficult things one can do in life. This is a task made infinitely more challenging by high rates on loans. If you want to start a business and are allergic to financial head ache, Remu and their high rates might be one to avoid.
Bank Of Africa: You can’t have a business without having a place to do business. If you don’t want bills to pile up once a place to lay your desk is found, then the extremely pricey 18.79 percent rate that Bank of Africa is offering on commercial loans may prove straining on a business’s budget.
Uwezo Microfinance: Last but certainly not least in the price department is Uwezo Microfinance. Their rate for asset finance is a bit eye popping, coming in at a simply massive 30.25 percent rate.
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