Ksh 2,000,000 loan at Consolidated Bank of Kenya for 2 years.
At Consolidated Bank of Kenya's current lending rate of 13.61%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 95,658. Total cost: Ksh 2,295,785 (Ksh 295,785 interest).
Monthly repayment
Ksh 95,658
At 13.61% · 24 payments
Total repayment
Ksh 2,295,785
1.15× the borrowed amount
Total interest
Ksh 295,785
Ksh 41,621 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 932,436 | Ksh 215,456 | Ksh 1,067,564 |
| Year 2 | Ksh 2,000,000 | Ksh 295,785 | 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 2,000,000 loan over 2 years would run about Ksh 92,623/month — saving Ksh 72,844 in interest. See the Citibank N.A. Kenya version →