Small businesses seeking to get affordable credit should go UBA bank since it offers the cheapest loans in the market, a new report shows.
According to the 2017 Think Business Banking Tariff Survey released Wednesday, UBA charges low costs compared to the large banks making her the favourite.
High cost of capital is the overarching challenge for Kenyan entrepreneurs and the move to cap lending rates by the government has not helped the situation with banks opting sack employees instead of reducing interest rates.
“In addition for the banks with the lowest charges UBA emerged as the overall lender with the lowest charges in SME banking for 2017,” said Think Business chief executive Ochieng Oloo.
The market study done by Think Business tariff survey focused retail and SME banking across 38 banks.
Here are the banks