Ksh 1,000,000 loan at Credit Bank for 10 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 18,936. Total cost: Ksh 2,272,321 (Ksh 1,272,321 interest).
Monthly repayment
Ksh 18,936
At 19.41% · 120 payments
Total repayment
Ksh 2,272,321
2.27× the borrowed amount
Total interest
Ksh 1,272,321
Ksh 303,841 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 36,244 | Ksh 190,988 | Ksh 963,756 |
| Year 2 | Ksh 80,185 | Ksh 374,279 | Ksh 919,815 |
| Year 3 | Ksh 133,455 | Ksh 548,241 | Ksh 866,545 |
| Year 4 | Ksh 198,037 | Ksh 710,892 | Ksh 801,963 |
| Year 5 | Ksh 276,331 | Ksh 859,829 | Ksh 723,669 |
| Year 6 | Ksh 371,250 | Ksh 992,143 | Ksh 628,750 |
| Year 7 | Ksh 486,323 | Ksh 1,104,302 | Ksh 513,677 |
| Year 8 | Ksh 625,830 | Ksh 1,192,027 | Ksh 374,170 |
| Year 9 | Ksh 794,959 | Ksh 1,250,130 | Ksh 205,041 |
| Year 10 | Ksh 1,000,000 | Ksh 1,272,321 | 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 10 years would run about Ksh 13,415/month — saving Ksh 662,494 in interest. See the Citibank N.A. Kenya version →