Absa takes on small lenders with cheap personal loans offer

Customers at a banking hall on February 10, 2021. PHOTO | DIANA NGILA | NMG

Absa Bank Kenya #ticker:ABSA has joined small lenders to offer the cheapest personal loans, breaking ranks with other big banks that have continued to issue relatively expensive credit facilities.

An Absa customer taking a Sh1 million, one-year personal unsecured loan today will incur a total credit cost of Sh71,807.

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Note: The results are not exact but very close to the actual.