Ksh 1,000,000 loan at Co-operative Bank of Kenya for 3 years.
At Co-operative Bank of Kenya's current lending rate of 16.10%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 35,206. Total cost: Ksh 1,267,431 (Ksh 267,431 interest).
Monthly repayment
Ksh 35,206
At 16.10% · 36 payments
Total repayment
Ksh 1,267,431
1.27× the borrowed amount
Total interest
Ksh 267,431
Ksh 11,709 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 281,661 | Ksh 140,816 | Ksh 718,339 |
| Year 2 | Ksh 612,171 | Ksh 232,783 | Ksh 387,829 |
| Year 3 | Ksh 1,000,000 | Ksh 267,431 | 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 3 years would run about Ksh 32,436/month — saving Ksh 99,718 in interest. See the Citibank N.A. Kenya version →