Ksh 5,000,000 loan at Credit Bank for 3 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 184,318. Total cost: Ksh 6,635,456 (Ksh 1,635,456 interest).
Monthly repayment
Ksh 184,318
At 19.41% · 36 payments
Total repayment
Ksh 6,635,456
1.33× the borrowed amount
Total interest
Ksh 1,635,456
Ksh 356,843 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 1,357,926 | Ksh 853,893 | Ksh 3,642,074 |
| Year 2 | Ksh 3,004,185 | Ksh 1,419,452 | Ksh 1,995,815 |
| Year 3 | Ksh 5,000,000 | Ksh 1,635,456 | 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 3 years would run about Ksh 162,182/month — saving Ksh 796,892 in interest. See the Citibank N.A. Kenya version →