Ksh 10,000,000 loan at Credit Bank for 3 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 368,636. Total cost: Ksh 13,270,913 (Ksh 3,270,912 interest).
Monthly repayment
Ksh 368,636
At 19.41% · 36 payments
Total repayment
Ksh 13,270,913
1.33× the borrowed amount
Total interest
Ksh 3,270,912
Ksh 713,685 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 2,715,852 | Ksh 1,707,785 | Ksh 7,284,148 |
| Year 2 | Ksh 6,008,370 | Ksh 2,838,905 | Ksh 3,991,630 |
| Year 3 | Ksh 10,000,000 | Ksh 3,270,912 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,593,784 in interest. See the Citibank N.A. Kenya version →