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Mortgage firm HFC, Chase Bank to cut loan rates next week

HF Group, head office at Rehani House along Kenyatta Avenue, Nairobi. PHORTO | FILE

HFC, the banking arm of HF Group, and Chase Bank are the latest lenders to announce planned reduction in interest rates by up to a percentage point against the backdrop of a controversial bid to control loan rates.

“Effective August 25, HFC will lower its interest rates in line with the 0.97 per cent reduction of Kenya Bank’s Reference Rate (KBRR) by the Central Bank of Kenya (CBK),” said HFC in a public notice yesterday.

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