After reducing lending interest rates by 0.75% in the 4th quarter of 2024, I&M Bank has again reduced its Kenya Shillings lending interest rates further by 2.00% effective 01/03/2025.
This reduction is subject to the applicable customer risk profile. This brings the total reduction in lending interest rates to 2.75% in recent months. This is in response to the Central Bank of Kenya’s (CBK) recent decision to lower the Central Bank Rate (CBR) and the Cash Reserve Ratio (CRR).
“This action reflects our commitment to making credit more accessible and affordable for both businesses and individuals. We understand the challenges our customers face in the current economic environment and this reduction will provide meaningful relief while supporting Kenya’s economic growth.” said Gul Khan, CEO of I&M Bank Kenya.
This move aligns perfectly with I&M’s brand promise to always be ‘On Your Side’ and demonstrates our readiness to respond timely and positively to policy changes that benefit our customers.
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