Ksh 500,000 loan at Credit Bank for 2 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 25,304. Total cost: Ksh 607,296 (Ksh 107,296 interest).
Monthly repayment
Ksh 25,304
At 19.41% · 24 payments
Total repayment
Ksh 607,296
1.21× the borrowed amount
Total interest
Ksh 107,296
Ksh 22,945 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 226,006 | Ksh 77,643 | Ksh 273,994 |
| Year 2 | Ksh 500,000 | Ksh 107,296 | 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 2 years would run about Ksh 23,156/month — saving Ksh 51,561 in interest. See the Citibank N.A. Kenya version →