Ksh 1,000,000 loan at Credit Bank for 5 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 26,167. Total cost: Ksh 1,570,000 (Ksh 570,000 interest).
Monthly repayment
Ksh 26,167
At 19.41% · 60 payments
Total repayment
Ksh 1,570,000
1.57× the borrowed amount
Total interest
Ksh 570,000
Ksh 128,709 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 131,163 | Ksh 182,837 | Ksh 868,837 |
| Year 2 | Ksh 290,177 | Ksh 337,823 | Ksh 709,823 |
| Year 3 | Ksh 482,954 | Ksh 459,046 | Ksh 517,046 |
| Year 4 | Ksh 716,665 | Ksh 539,335 | Ksh 283,335 |
| Year 5 | Ksh 1,000,000 | Ksh 570,000 | 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 5 years would run about Ksh 21,425/month — saving Ksh 284,523 in interest. See the Citibank N.A. Kenya version →