Ksh 500,000 loan at Credit Bank for 3 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 18,432. Total cost: Ksh 663,546 (Ksh 163,546 interest).
Monthly repayment
Ksh 18,432
At 19.41% · 36 payments
Total repayment
Ksh 663,546
1.33× the borrowed amount
Total interest
Ksh 163,546
Ksh 35,684 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 135,793 | Ksh 85,389 | Ksh 364,207 |
| Year 2 | Ksh 300,419 | Ksh 141,945 | Ksh 199,581 |
| Year 3 | Ksh 500,000 | Ksh 163,546 | 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 3 years would run about Ksh 16,218/month — saving Ksh 79,689 in interest. See the Citibank N.A. Kenya version →