Ksh 1,000,000 loan at Consolidated Bank of Kenya for 3 years.
At Consolidated Bank of Kenya's current lending rate of 13.61%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 33,989. Total cost: Ksh 1,223,587 (Ksh 223,587 interest).
Monthly repayment
Ksh 33,989
At 13.61% · 36 payments
Total repayment
Ksh 1,223,587
1.22× the borrowed amount
Total interest
Ksh 223,587
Ksh 32,136 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 289,372 | Ksh 118,490 | Ksh 710,628 |
| Year 2 | Ksh 620,680 | Ksh 195,045 | Ksh 379,320 |
| Year 3 | Ksh 1,000,000 | Ksh 223,587 | 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 3 years would run about Ksh 32,436/month — saving Ksh 55,874 in interest. See the Citibank N.A. Kenya version →