Ksh 500,000 loan at Credit Bank for 15 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 8,564. Total cost: Ksh 1,541,579 (Ksh 1,041,579 interest).
Monthly repayment
Ksh 8,564
At 19.41% · 180 payments
Total repayment
Ksh 1,541,579
3.08× the borrowed amount
Total interest
Ksh 1,041,579
Ksh 254,718 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 6,259 | Ksh 96,512 | Ksh 493,741 |
| Year 2 | Ksh 13,848 | Ksh 191,696 | Ksh 486,152 |
| Year 3 | Ksh 23,048 | Ksh 285,268 | Ksh 476,952 |
| Year 4 | Ksh 34,201 | Ksh 376,887 | Ksh 465,799 |
| Year 5 | Ksh 47,723 | Ksh 466,137 | Ksh 452,277 |
| Year 6 | Ksh 64,115 | Ksh 552,517 | Ksh 435,885 |
| Year 7 | Ksh 83,988 | Ksh 635,415 | Ksh 416,012 |
| Year 8 | Ksh 108,081 | Ksh 714,094 | Ksh 391,919 |
| Year 9 | Ksh 137,290 | Ksh 787,657 | Ksh 362,710 |
| Year 10 | Ksh 172,701 | Ksh 855,019 | Ksh 327,299 |
| Year 11 | Ksh 215,630 | Ksh 914,861 | Ksh 284,370 |
| Year 12 | Ksh 267,675 | Ksh 965,588 | Ksh 232,325 |
| Year 13 | Ksh 330,771 | Ksh 1,005,264 | Ksh 169,229 |
| Year 14 | Ksh 407,265 | Ksh 1,031,543 | Ksh 92,735 |
| Year 15 | Ksh 500,000 | Ksh 1,041,579 | 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 500,000 loan over 15 years would run about Ksh 5,484/month — saving Ksh 554,517 in interest. See the Citibank N.A. Kenya version →