Ksh 1,000,000 loan at Consolidated Bank of Kenya for 15 years.
At Consolidated Bank of Kenya's current lending rate of 13.61%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 13,056. Total cost: Ksh 2,350,156 (Ksh 1,350,156 interest).
Monthly repayment
Ksh 13,056
At 13.61% · 180 payments
Total repayment
Ksh 2,350,156
2.35× the borrowed amount
Total interest
Ksh 1,350,156
Ksh 223,566 less 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 21,910 | Ksh 134,767 | Ksh 978,090 |
| Year 2 | Ksh 46,996 | Ksh 266,358 | Ksh 953,004 |
| Year 3 | Ksh 75,717 | Ksh 394,314 | Ksh 924,283 |
| Year 4 | Ksh 108,600 | Ksh 518,108 | Ksh 891,400 |
| Year 5 | Ksh 146,249 | Ksh 637,136 | Ksh 853,751 |
| Year 6 | Ksh 189,354 | Ksh 750,708 | Ksh 810,646 |
| Year 7 | Ksh 238,705 | Ksh 858,034 | Ksh 761,295 |
| Year 8 | Ksh 295,209 | Ksh 958,208 | Ksh 704,791 |
| Year 9 | Ksh 359,901 | Ksh 1,050,193 | Ksh 640,099 |
| Year 10 | Ksh 433,967 | Ksh 1,132,803 | Ksh 566,033 |
| Year 11 | Ksh 518,768 | Ksh 1,204,680 | Ksh 481,232 |
| Year 12 | Ksh 615,858 | Ksh 1,264,267 | Ksh 384,142 |
| Year 13 | Ksh 727,018 | Ksh 1,309,784 | Ksh 272,982 |
| Year 14 | Ksh 854,287 | Ksh 1,339,192 | Ksh 145,713 |
| Year 15 | Ksh 1,000,000 | Ksh 1,350,156 | 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 15 years would run about Ksh 10,967/month — saving Ksh 376,032 in interest. See the Citibank N.A. Kenya version →