Ksh 2,000,000 loan at Credit Bank for 3 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 73,727. Total cost: Ksh 2,654,182 (Ksh 654,182 interest).
Monthly repayment
Ksh 73,727
At 19.41% · 36 payments
Total repayment
Ksh 2,654,182
1.33× the borrowed amount
Total interest
Ksh 654,182
Ksh 142,737 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 543,170 | Ksh 341,557 | Ksh 1,456,830 |
| Year 2 | Ksh 1,201,674 | Ksh 567,781 | Ksh 798,326 |
| Year 3 | Ksh 2,000,000 | Ksh 654,182 | 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 3 years would run about Ksh 64,873/month — saving Ksh 318,757 in interest. See the Citibank N.A. Kenya version →