am aware that MPC is like once every three months and it affect almost everything the commercial banks do..

as per the interest rate on personal loan, do banks operate fixed or flexible interest rate on personal loan given the realities of MPC.

someone here is having this type of issue with fidelity bank and the bankers are claiming that there interest is fixed which i very much doubt.. i have asked the person to contact the bank head office to confirm..loan was booked for her at 26% and now the bank rate is 23% as per what she told me (3% is a huge change)..

anyone with the right information should please shed more light on the matter

beejaay:

am aware that MPC is like once every three months and it affect almost everything the commercial banks do..

as per the interest rate on personal loan, do banks operate fixed or flexible interest rate on personal loan given the realities of MPC.

someone here is having this type of issue with fidelity bank and the bankers are claiming that there interest is fixed which i very much doubt.. i have asked the person to contact the bank head office to confirm..loan was booked for her at 26% and now the bank rate is 23% as per what she told me (3% is a huge change)..

anyone with the right information should please shed more light on the matter

any help from anyone??