Ksh 1,000,000 loan at Commercial International Bank Kenya for 10 years.
At Commercial International Bank Kenya's current lending rate of 20.00%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 19,326. Total cost: Ksh 2,319,068 (Ksh 1,319,068 interest).
Monthly repayment
Ksh 19,326
At 20.00% · 120 payments
Total repayment
Ksh 2,319,068
2.32× the borrowed amount
Total interest
Ksh 1,319,068
Ksh 350,588 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 35,000 | Ksh 196,906 | Ksh 965,000 |
| Year 2 | Ksh 77,679 | Ksh 386,134 | Ksh 922,321 |
| Year 3 | Ksh 129,722 | Ksh 565,998 | Ksh 870,278 |
| Year 4 | Ksh 193,182 | Ksh 734,445 | Ksh 806,818 |
| Year 5 | Ksh 270,565 | Ksh 888,969 | Ksh 729,435 |
| Year 6 | Ksh 364,925 | Ksh 1,026,516 | Ksh 635,075 |
| Year 7 | Ksh 479,986 | Ksh 1,143,361 | Ksh 520,014 |
| Year 8 | Ksh 620,292 | Ksh 1,234,963 | Ksh 379,708 |
| Year 9 | Ksh 791,378 | Ksh 1,295,783 | Ksh 208,622 |
| Year 10 | Ksh 1,000,000 | Ksh 1,319,068 | 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 10 years would run about Ksh 13,415/month — saving Ksh 709,241 in interest. See the Citibank N.A. Kenya version →