KCB lowers interest rates for existing loans to 14.5pc

KCB has lowered interest rates for existing loans to not more than 14.5 percent.

Group CEO Joshua Oigara has asked customers to contact branches for details.

The bank, in a statement, said both new and existing loans will enjoy the 14.5 per cent cap on rates and urged customers to get in touch with their branches from tomorrow to review and amend their banking facilities documents to reflect the new interest rate regime.

"This exercise of reviewing the current facilities will commence tomorrow, September 1, 2016 and we urge our customers to get in touch with their branch managers," said Mr Oigara.