Ksh 1,000,000 loan at Commercial International Bank Kenya for 20 years.
At Commercial International Bank Kenya's current lending rate of 20.00%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 16,988. Total cost: Ksh 4,077,180 (Ksh 3,077,179 interest).
Monthly repayment
Ksh 16,988
At 20.00% · 240 payments
Total repayment
Ksh 4,077,180
4.08× the borrowed amount
Total interest
Ksh 3,077,179
Ksh 838,584 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 4,233 | Ksh 199,626 | Ksh 995,767 |
| Year 2 | Ksh 9,395 | Ksh 398,323 | Ksh 990,605 |
| Year 3 | Ksh 15,689 | Ksh 595,888 | Ksh 984,311 |
| Year 4 | Ksh 23,364 | Ksh 792,071 | Ksh 976,636 |
| Year 5 | Ksh 32,723 | Ksh 986,571 | Ksh 967,277 |
| Year 6 | Ksh 44,136 | Ksh 1,179,018 | Ksh 955,864 |
| Year 7 | Ksh 58,052 | Ksh 1,368,961 | Ksh 941,948 |
| Year 8 | Ksh 75,021 | Ksh 1,555,851 | Ksh 924,979 |
| Year 9 | Ksh 95,713 | Ksh 1,739,018 | Ksh 904,287 |
| Year 10 | Ksh 120,945 | Ksh 1,917,645 | Ksh 879,056 |
| Year 11 | Ksh 151,712 | Ksh 2,090,737 | Ksh 848,288 |
| Year 12 | Ksh 189,229 | Ksh 2,257,078 | Ksh 810,771 |
| Year 13 | Ksh 234,977 | Ksh 2,415,189 | Ksh 765,023 |
| Year 14 | Ksh 290,762 | Ksh 2,563,263 | Ksh 709,238 |
| Year 15 | Ksh 358,786 | Ksh 2,699,098 | Ksh 641,214 |
| Year 16 | Ksh 441,734 | Ksh 2,820,010 | Ksh 558,266 |
| Year 17 | Ksh 542,879 | Ksh 2,922,723 | Ksh 457,121 |
| Year 18 | Ksh 666,215 | Ksh 3,003,246 | Ksh 333,785 |
| Year 19 | Ksh 816,610 | Ksh 3,056,710 | Ksh 183,390 |
| Year 20 | Ksh 1,000,000 | Ksh 3,077,179 | 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 20 years would run about Ksh 9,890/month — saving Ksh 1,703,595 in interest. See the Citibank N.A. Kenya version →