文章基本信息

标题：CONSUMERS’ KNOWLEDGE ON INTEREST RATES AND REPAYMENT PERIOD ON CREDIT SOURCE
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作者：Patrick Chege Muchiri ; Walter Bichanga Okibo
期刊名称：European Journal of Business and Social Sciences
印刷版ISSN：2235-767X
出版年度：2014
卷号：3
期号：08
页码：45-52
出版社：European Society of Business and Social Sciences
摘要：Quantitative approach was adopted where descriptive research design was be applied. A sample of 100 potential and existing credit consumers was used to collect data using a questionnaire, by visiting lending institutions, market and business places, learning institutions and some respondents at their home places. Findings suggest that credit consumers were not fully aware of the credit lending conditions so as to make an informed decision on where to acquire the credit facility. The study also showed that Work place and financial institutions constituted 72 and 78 percent of the financial information respectively to the credit consumers despite some biasness expected from the financial lending institutions. According to these findings and previous research work, it is evident that lack of financial knowledge is more likely to affect specific groups and this should concern the policy makers, including less financially sophisticated and lowerincome consumers.
关键词：Consumers’ knowledge; Interest rates; Repayment;period and Credit source