Ksh 1,000,000 loan at Credit Bank for 3 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 36,864. Total cost: Ksh 1,327,091 (Ksh 327,091 interest).
Monthly repayment
Ksh 36,864
At 19.41% · 36 payments
Total repayment
Ksh 1,327,091
1.33× the borrowed amount
Total interest
Ksh 327,091
Ksh 71,369 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 271,585 | Ksh 170,779 | Ksh 728,415 |
| Year 2 | Ksh 600,837 | Ksh 283,890 | Ksh 399,163 |
| Year 3 | Ksh 1,000,000 | Ksh 327,091 | 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 3 years would run about Ksh 32,436/month — saving Ksh 159,378 in interest. See the Citibank N.A. Kenya version →