NCBA Bank has lowered its lending rate in line with the recently announced Central Bank Rate (CBR). The lending rate for NCBA will now be at 14.34% from 17.50%.
“Given the recent Kenya Central Bank Rate (CBR) downward revision, we wish to advise that our Kenya Shillings Base Lending Rate will reduce to 14.34% p.a. effective May 1, 2025,” said the lender in a statement.
The new lending rate by NCBA takes effect immediately.
Read Also: April Is Financial Literacy Month: How NCBA Bank Is Pushing For Money Knowledge Among Kenyans
The lowering of the lending rate coincides with the Financial Literacy month where NCBA has been enlightening Kenyans on money matters.
During the month, the lender partnered with Family TV to enlighten Kenyans on financial matters. According to the lender, the episodes are part of its efforts to enhance financial literacy, savings culture, and money management among Kenyans.
Read Also: NCBA Bank Partners With Family TV To Teach Kenyans Money Matters