Ksh 2,000,000 loan at Credit Bank for 2 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 101,216. Total cost: Ksh 2,429,186 (Ksh 429,186 interest).
Monthly repayment
Ksh 101,216
At 19.41% · 24 payments
Total repayment
Ksh 2,429,186
1.21× the borrowed amount
Total interest
Ksh 429,186
Ksh 91,780 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 904,023 | Ksh 310,570 | Ksh 1,095,977 |
| Year 2 | Ksh 2,000,000 | Ksh 429,186 | 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 2 years would run about Ksh 92,623/month — saving Ksh 206,245 in interest. See the Citibank N.A. Kenya version →