Ksh 1,000,000 loan at Credit Bank for 25 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 16,307. Total cost: Ksh 4,892,214 (Ksh 3,892,215 interest).
Monthly repayment
Ksh 16,307
At 19.41% · 300 payments
Total repayment
Ksh 4,892,214
4.89× the borrowed amount
Total interest
Ksh 3,892,215
Ksh 947,026 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 1,738 | Ksh 193,951 | Ksh 998,262 |
| Year 2 | Ksh 3,845 | Ksh 387,533 | Ksh 996,155 |
| Year 3 | Ksh 6,399 | Ksh 580,667 | Ksh 993,601 |
| Year 4 | Ksh 9,495 | Ksh 773,259 | Ksh 990,505 |
| Year 5 | Ksh 13,249 | Ksh 965,194 | Ksh 986,751 |
| Year 6 | Ksh 17,800 | Ksh 1,156,331 | Ksh 982,200 |
| Year 7 | Ksh 23,318 | Ksh 1,346,502 | Ksh 976,682 |
| Year 8 | Ksh 30,007 | Ksh 1,535,502 | Ksh 969,993 |
| Year 9 | Ksh 38,116 | Ksh 1,723,081 | Ksh 961,884 |
| Year 10 | Ksh 47,947 | Ksh 1,908,939 | Ksh 952,053 |
| Year 11 | Ksh 59,866 | Ksh 2,092,709 | Ksh 940,134 |
| Year 12 | Ksh 74,315 | Ksh 2,273,948 | Ksh 925,685 |
| Year 13 | Ksh 91,833 | Ksh 2,452,119 | Ksh 908,167 |
| Year 14 | Ksh 113,070 | Ksh 2,626,570 | Ksh 886,930 |
| Year 15 | Ksh 138,816 | Ksh 2,796,513 | Ksh 861,184 |
| Year 16 | Ksh 170,029 | Ksh 2,960,988 | Ksh 829,971 |
| Year 17 | Ksh 207,870 | Ksh 3,118,836 | Ksh 792,130 |
| Year 18 | Ksh 253,746 | Ksh 3,268,649 | Ksh 746,254 |
| Year 19 | Ksh 309,362 | Ksh 3,408,721 | Ksh 690,638 |
| Year 20 | Ksh 376,788 | Ksh 3,536,984 | Ksh 623,212 |
| Year 21 | Ksh 458,531 | Ksh 3,650,930 | Ksh 541,470 |
| Year 22 | Ksh 557,630 | Ksh 3,747,519 | Ksh 442,370 |
| Year 23 | Ksh 677,771 | Ksh 3,823,067 | Ksh 322,229 |
| Year 24 | Ksh 823,422 | Ksh 3,873,104 | Ksh 176,578 |
| Year 25 | Ksh 1,000,000 | Ksh 3,892,215 | 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 25 years would run about Ksh 9,342/month — saving Ksh 2,089,613 in interest. See the Citibank N.A. Kenya version →