Ksh 5,000,000 loan at Credit Bank for 2 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 253,040. Total cost: Ksh 6,072,965 (Ksh 1,072,965 interest).
Monthly repayment
Ksh 253,040
At 19.41% · 24 payments
Total repayment
Ksh 6,072,965
1.21× the borrowed amount
Total interest
Ksh 1,072,965
Ksh 229,450 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 2,260,057 | Ksh 776,425 | Ksh 2,739,943 |
| Year 2 | Ksh 5,000,000 | Ksh 1,072,965 | 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 5,000,000 loan over 2 years would run about Ksh 231,556/month — saving Ksh 515,614 in interest. See the Citibank N.A. Kenya version →