Ksh 2,000,000 loan at Credit Bank for 5 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 52,333. Total cost: Ksh 3,140,000 (Ksh 1,140,000 interest).
Monthly repayment
Ksh 52,333
At 19.41% · 60 payments
Total repayment
Ksh 3,140,000
1.57× the borrowed amount
Total interest
Ksh 1,140,000
Ksh 257,419 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 262,326 | Ksh 365,674 | Ksh 1,737,674 |
| Year 2 | Ksh 580,354 | Ksh 675,647 | Ksh 1,419,646 |
| Year 3 | Ksh 965,909 | Ksh 918,092 | Ksh 1,034,091 |
| Year 4 | Ksh 1,433,330 | Ksh 1,078,671 | Ksh 566,670 |
| Year 5 | Ksh 2,000,000 | Ksh 1,140,000 | 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 5 years would run about Ksh 42,849/month — saving Ksh 569,047 in interest. See the Citibank N.A. Kenya version →