The MD of CIC allegedly transferred staff loans to KCB in a shady deal. As a result the interest rate has more than doubled! Imagine your employer doing this to you in this shitty economy! This is criminal!
“That’s the letter they wrote to us. So from this month I have no salary to live with.
Can’t buy medicine for parents, pay my bills, no transportation money, certainly I can’t afford food now. Am just depressed. Yet am one of the best performing employees esp in my department. I give this company my all.
When we took these loans rate was 6%. Goal posts keep changing along the way. The first contract we signed while taking this loans was favourable. Now they have gone to 15% that’s more than double. I will now be the one who owes the company.
They are making our lives difficult yet no one has defaulted. Before our salary checks into the bank they have already deducted the loan repayment meaning no one can default. But they are treating us worse than defaulters in a bank.