Ksh 1,000,000 loan at Co-operative Bank of Kenya for 2 years.
At Co-operative Bank of Kenya's current lending rate of 16.10%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 49,011. Total cost: Ksh 1,176,262 (Ksh 176,262 interest).
Monthly repayment
Ksh 49,011
At 16.10% · 24 payments
Total repayment
Ksh 1,176,262
1.18× the borrowed amount
Total interest
Ksh 176,262
Ksh 7,559 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 460,103 | Ksh 128,028 | Ksh 539,897 |
| Year 2 | Ksh 1,000,000 | Ksh 176,262 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 1,000,000 loan over 2 years would run about Ksh 46,311/month — saving Ksh 64,791 in interest. See the Citibank N.A. Kenya version →