Ksh 10,000,000 loan at Commercial International Bank Kenya for 15 years.
At Commercial International Bank Kenya's current lending rate of 20.00%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 175,630. Total cost: Ksh 31,613,337 (Ksh 21,613,337 interest).
Monthly repayment
Ksh 175,630
At 20.00% · 180 payments
Total repayment
Ksh 31,613,337
3.16× the borrowed amount
Total interest
Ksh 21,613,337
Ksh 5,876,117 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 117,984 | Ksh 1,989,572 | Ksh 9,882,016 |
| Year 2 | Ksh 261,852 | Ksh 3,953,259 | Ksh 9,738,148 |
| Year 3 | Ksh 437,284 | Ksh 5,885,383 | Ksh 9,562,716 |
| Year 4 | Ksh 651,205 | Ksh 7,779,018 | Ksh 9,348,795 |
| Year 5 | Ksh 912,057 | Ksh 9,625,722 | Ksh 9,087,943 |
| Year 6 | Ksh 1,230,138 | Ksh 11,415,197 | Ksh 8,769,862 |
| Year 7 | Ksh 1,618,004 | Ksh 13,134,887 | Ksh 8,381,996 |
| Year 8 | Ksh 2,090,963 | Ksh 14,769,483 | Ksh 7,909,037 |
| Year 9 | Ksh 2,667,686 | Ksh 16,300,317 | Ksh 7,332,314 |
| Year 10 | Ksh 3,370,936 | Ksh 17,704,622 | Ksh 6,629,064 |
| Year 11 | Ksh 4,228,473 | Ksh 18,954,641 | Ksh 5,771,527 |
| Year 12 | Ksh 5,274,147 | Ksh 20,016,523 | Ksh 4,725,853 |
| Year 13 | Ksh 6,549,231 | Ksh 20,848,994 | Ksh 3,450,769 |
| Year 14 | Ksh 8,104,058 | Ksh 21,401,723 | Ksh 1,895,942 |
| Year 15 | Ksh 10,000,000 | Ksh 21,613,337 | 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 10,000,000 loan over 15 years would run about Ksh 109,674/month — saving Ksh 11,872,098 in interest. See the Citibank N.A. Kenya version →