Ksh 2,000,000 loan at Credit Bank for 15 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 34,257. Total cost: Ksh 6,166,316 (Ksh 4,166,317 interest).
Monthly repayment
Ksh 34,257
At 19.41% · 180 payments
Total repayment
Ksh 6,166,316
3.08× the borrowed amount
Total interest
Ksh 4,166,317
Ksh 1,018,873 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 25,038 | Ksh 386,050 | Ksh 1,974,962 |
| Year 2 | Ksh 55,392 | Ksh 766,784 | Ksh 1,944,608 |
| Year 3 | Ksh 92,191 | Ksh 1,141,072 | Ksh 1,907,809 |
| Year 4 | Ksh 136,804 | Ksh 1,507,547 | Ksh 1,863,196 |
| Year 5 | Ksh 190,890 | Ksh 1,864,548 | Ksh 1,809,110 |
| Year 6 | Ksh 256,461 | Ksh 2,210,066 | Ksh 1,743,539 |
| Year 7 | Ksh 335,954 | Ksh 2,541,661 | Ksh 1,664,046 |
| Year 8 | Ksh 432,326 | Ksh 2,856,377 | Ksh 1,567,674 |
| Year 9 | Ksh 549,161 | Ksh 3,150,629 | Ksh 1,450,839 |
| Year 10 | Ksh 690,803 | Ksh 3,420,074 | Ksh 1,309,197 |
| Year 11 | Ksh 862,522 | Ksh 3,659,444 | Ksh 1,137,478 |
| Year 12 | Ksh 1,070,702 | Ksh 3,862,351 | Ksh 929,298 |
| Year 13 | Ksh 1,323,086 | Ksh 4,021,055 | Ksh 676,914 |
| Year 14 | Ksh 1,629,059 | Ksh 4,126,170 | Ksh 370,941 |
| Year 15 | Ksh 2,000,000 | Ksh 4,166,317 | 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 15 years would run about Ksh 21,935/month — saving Ksh 2,218,069 in interest. See the Citibank N.A. Kenya version →