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KCB now caps interest on mobile-based lending

KCB has become the second lender after Equity Bank to cut the interest charged on mobile-based loans.

Ranked the largest bank by assets, the top-tier lender says KCB M-Pesa loans will be charged a rate of 1.2 per cent monthly and deposits will earn 7.35 per cent per annum.

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

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