Ksh 10,000,000 loan at Commercial International Bank Kenya for 3 years.
At Commercial International Bank Kenya's current lending rate of 20.00%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 371,636. Total cost: Ksh 13,378,890 (Ksh 3,378,890 interest).
Monthly repayment
Ksh 371,636
At 20.00% · 36 payments
Total repayment
Ksh 13,378,890
1.34× the borrowed amount
Total interest
Ksh 3,378,890
Ksh 821,663 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 2,698,104 | Ksh 1,761,526 | Ksh 7,301,896 |
| Year 2 | Ksh 5,988,149 | Ksh 2,931,111 | Ksh 4,011,851 |
| Year 3 | Ksh 10,000,000 | Ksh 3,378,890 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,701,761 in interest. See the Citibank N.A. Kenya version →