The interest rate is only one component of a loan and last week the Central Bank raised its’ base rates which should lead to more expensive loans for borrowers in the coming weeks.
Now, Jijini Markets have released their latest monthly report on they call the best and worst bank loans and mortgages in which they rank consumer loans, business loans, asset finance and mortgages by the interest rates that various banks are charging.
Interesting how there exists such a huge range in interest rates for the same type of loan, in the same market and each lender evidently has customers. We simply don’t shop around enough before deciding.