Ksh 1,000,000 loan at Credit Bank for 20 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 16,526. Total cost: Ksh 3,966,324 (Ksh 2,966,323 interest).
Monthly repayment
Ksh 16,526
At 19.41% · 240 payments
Total repayment
Ksh 3,966,324
3.97× the borrowed amount
Total interest
Ksh 2,966,323
Ksh 727,728 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 4,612 | Ksh 193,704 | Ksh 995,388 |
| Year 2 | Ksh 10,204 | Ksh 386,429 | Ksh 989,796 |
| Year 3 | Ksh 16,983 | Ksh 577,966 | Ksh 983,017 |
| Year 4 | Ksh 25,201 | Ksh 768,064 | Ksh 974,799 |
| Year 5 | Ksh 35,164 | Ksh 956,417 | Ksh 964,836 |
| Year 6 | Ksh 47,243 | Ksh 1,142,654 | Ksh 952,757 |
| Year 7 | Ksh 61,886 | Ksh 1,326,327 | Ksh 938,114 |
| Year 8 | Ksh 79,639 | Ksh 1,506,891 | Ksh 920,361 |
| Year 9 | Ksh 101,161 | Ksh 1,683,685 | Ksh 898,839 |
| Year 10 | Ksh 127,253 | Ksh 1,855,909 | Ksh 872,747 |
| Year 11 | Ksh 158,885 | Ksh 2,022,593 | Ksh 841,115 |
| Year 12 | Ksh 197,234 | Ksh 2,182,560 | Ksh 802,766 |
| Year 13 | Ksh 243,726 | Ksh 2,334,384 | Ksh 756,274 |
| Year 14 | Ksh 300,089 | Ksh 2,476,337 | Ksh 699,911 |
| Year 15 | Ksh 368,420 | Ksh 2,606,322 | Ksh 631,580 |
| Year 16 | Ksh 451,260 | Ksh 2,721,798 | Ksh 548,740 |
| Year 17 | Ksh 551,690 | Ksh 2,819,685 | Ksh 448,310 |
| Year 18 | Ksh 673,444 | Ksh 2,896,247 | Ksh 326,556 |
| Year 19 | Ksh 821,051 | Ksh 2,946,956 | Ksh 178,949 |
| Year 20 | Ksh 1,000,000 | Ksh 2,966,323 | 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 20 years would run about Ksh 9,890/month — saving Ksh 1,592,739 in interest. See the Citibank N.A. Kenya version →