Ksh 10,000,000 loan at Credit Bank for 5 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 261,667. Total cost: Ksh 15,700,002 (Ksh 5,700,002 interest).
Monthly repayment
Ksh 261,667
At 19.41% · 60 payments
Total repayment
Ksh 15,700,002
1.57× the borrowed amount
Total interest
Ksh 5,700,002
Ksh 1,287,093 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 1,311,632 | Ksh 1,828,368 | Ksh 8,688,368 |
| Year 2 | Ksh 2,901,768 | Ksh 3,378,233 | Ksh 7,098,232 |
| Year 3 | Ksh 4,829,543 | Ksh 4,590,458 | Ksh 5,170,457 |
| Year 4 | Ksh 7,166,649 | Ksh 5,393,353 | Ksh 2,833,351 |
| Year 5 | Ksh 10,000,000 | Ksh 5,700,002 | 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 5 years would run about Ksh 214,246/month — saving Ksh 2,845,235 in interest. See the Citibank N.A. Kenya version →