In a symphony of financial metamorphosis, NCBA Bank Kenya has announced an enchanting alteration to its Base Lending Rates, echoing the cadence of the ever-evolving macroeconomic landscape. Effective November 8, 2023, the melodies of interest rates will harmonize anew, painting a picture of fiscal resilience.
The Kenya Shillings Base Lending Rate, once standing at a rhythmic 13.0% p.a., will now crescendo to a sonorous 14.50% p.a., an ascent that resonates with the crescendo of economic challenges.
Meanwhile, the United States Dollars Base Lending Rate will elegantly waltz from 10.50% p.a. to 11.0% p.a., its steps echoing the dynamic fluctuations of the global financial stage.
As this financial overture unfolds, it is crucial to note the impact on loan facilities. For those who have found solace in the embrace of fixed-rate loans, fear not, for this opus of change shall serenade you without a dissonant note. Your rates shall remain as steadfast as the Northern Star in the night sky.
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Yet, for those with Variable Rate Loans, the allegro of transformation beckons. The interest rates for loan facilities intertwined with NCBA Bank’s Base Lending Rate shall elegantly sway to the tune of an increase by 1.5% p.a. for KES-denominated loans and by 0.5% p.a. for USD-denominated loans, a testament to the bank’s dedication to harmony amidst economic crescendos.
Fear not, for amidst this symphony of change, the other notes in your loan facility remain unaltered, a constant refrain in the ever-evolving sonata of finance.
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Should curiosity stir your soul, if questions dance upon your financial horizon, do not hesitate to seek guidance from the maestros of finance. Contact your devoted Relationship Manager or the Customer Contact Centre, and their voices shall guide you through the score of financial understanding. They can be reached at 020-288 4444, 0711 056 444, 0732 156 444, or through the mellifluous melody of email at contact@ncbagroup.com. Alternatively, embark on a poetic pilgrimage to any of our branches, where the symphony of change finds its truest resonance.
In this area of financial transformation, NCBA Bank Kenya extends its hand to guide you through the ebbs and flows of economic serenades, ensuring that, together, we shall dance to the eternal rhythm of prosperity.
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