KCB has reviewed interests rates for existing loans and asked its clients to visit branches to discuss with credit officers over the same.
According to chief executive Joshua Oigara, both existing and new borrowers will enjoy an interest rate of 14.5 per cent.
“We encourage our customers to come to our branches as we start reviewing the existing loans,” he said Thursday.
He, however, said the new interest rates will not affect the mobile loans, for now, but added that they are working on it.
He also said on the bank’s twitter handle that they are also committed 5% of its loan book to support SMEs through the Kenya Bankers Association Inuka programme.
"We are committed to our journey with SMEs in Kenya coupled with the 2Jiajiri programme," said Oigara.
Mortgages will also be part of the products covered by the new interest rates regime which came into effect following the signing of the Banking (Amendment) Act 2015 by President Uhuru last week.
On Wednesday, CfC Stanbic slashed its lending rates at 14.5 per cent for both old and new borrowers.