Ksh 1,000,000 loan at Credit Bank for 2 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 50,608. Total cost: Ksh 1,214,593 (Ksh 214,593 interest).
Monthly repayment
Ksh 50,608
At 19.41% · 24 payments
Total repayment
Ksh 1,214,593
1.21× the borrowed amount
Total interest
Ksh 214,593
Ksh 45,890 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 452,011 | Ksh 155,285 | Ksh 547,989 |
| Year 2 | Ksh 1,000,000 | Ksh 214,593 | 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 2 years would run about Ksh 46,311/month — saving Ksh 103,123 in interest. See the Citibank N.A. Kenya version →