Ksh 10,000,000 loan at Credit Bank for 10 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 189,360. Total cost: Ksh 22,723,210 (Ksh 12,723,210 interest).
Monthly repayment
Ksh 189,360
At 19.41% · 120 payments
Total repayment
Ksh 22,723,210
2.27× the borrowed amount
Total interest
Ksh 12,723,210
Ksh 3,038,406 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 362,445 | Ksh 1,909,876 | Ksh 9,637,555 |
| Year 2 | Ksh 801,848 | Ksh 3,742,793 | Ksh 9,198,152 |
| Year 3 | Ksh 1,334,552 | Ksh 5,482,411 | Ksh 8,665,448 |
| Year 4 | Ksh 1,980,367 | Ksh 7,108,917 | Ksh 8,019,633 |
| Year 5 | Ksh 2,763,310 | Ksh 8,598,295 | Ksh 7,236,690 |
| Year 6 | Ksh 3,712,498 | Ksh 9,921,428 | Ksh 6,287,502 |
| Year 7 | Ksh 4,863,230 | Ksh 11,043,017 | Ksh 5,136,770 |
| Year 8 | Ksh 6,258,300 | Ksh 11,920,267 | Ksh 3,741,700 |
| Year 9 | Ksh 7,949,591 | Ksh 12,501,297 | Ksh 2,050,409 |
| Year 10 | Ksh 10,000,000 | Ksh 12,723,210 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 6,624,935 in interest. See the Citibank N.A. Kenya version →