Ksh 2,000,000 loan at Credit Bank for 1 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 2,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 184,705. Total cost: Ksh 2,216,457 (Ksh 216,457 interest).
Monthly repayment
Ksh 184,705
At 19.41% · 12 payments
Total repayment
Ksh 2,216,457
1.11× the borrowed amount
Total interest
Ksh 216,457
Ksh 45,271 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 2,000,000 | Ksh 216,457 | 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 2,000,000 loan over 1 years would run about Ksh 176,167/month — saving Ksh 102,455 in interest. See the Citibank N.A. Kenya version →