Ksh 1,000,000 loan at Credit Bank for 15 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 17,129. Total cost: Ksh 3,083,159 (Ksh 2,083,158 interest).
Monthly repayment
Ksh 17,129
At 19.41% · 180 payments
Total repayment
Ksh 3,083,159
3.08× the borrowed amount
Total interest
Ksh 2,083,158
Ksh 509,436 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 12,519 | Ksh 193,025 | Ksh 987,481 |
| Year 2 | Ksh 27,696 | Ksh 383,392 | Ksh 972,304 |
| Year 3 | Ksh 46,096 | Ksh 570,536 | Ksh 953,904 |
| Year 4 | Ksh 68,402 | Ksh 753,773 | Ksh 931,598 |
| Year 5 | Ksh 95,445 | Ksh 932,274 | Ksh 904,555 |
| Year 6 | Ksh 128,230 | Ksh 1,105,033 | Ksh 871,770 |
| Year 7 | Ksh 167,977 | Ksh 1,270,830 | Ksh 832,023 |
| Year 8 | Ksh 216,163 | Ksh 1,428,188 | Ksh 783,837 |
| Year 9 | Ksh 274,580 | Ksh 1,575,315 | Ksh 725,420 |
| Year 10 | Ksh 345,402 | Ksh 1,710,037 | Ksh 654,598 |
| Year 11 | Ksh 431,261 | Ksh 1,829,722 | Ksh 568,739 |
| Year 12 | Ksh 535,351 | Ksh 1,931,176 | Ksh 464,649 |
| Year 13 | Ksh 661,543 | Ksh 2,010,528 | Ksh 338,457 |
| Year 14 | Ksh 814,529 | Ksh 2,063,085 | Ksh 185,471 |
| Year 15 | Ksh 1,000,000 | Ksh 2,083,158 | 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 1,109,034 in interest. See the Citibank N.A. Kenya version →