Ksh 5,000,000 loan at Credit Bank for 5 years.
At Credit Bank's current lending rate of 19.41%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 130,833. Total cost: Ksh 7,850,001 (Ksh 2,850,001 interest).
Monthly repayment
Ksh 130,833
At 19.41% · 60 payments
Total repayment
Ksh 7,850,001
1.57× the borrowed amount
Total interest
Ksh 2,850,001
Ksh 643,547 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 655,816 | Ksh 914,184 | Ksh 4,344,184 |
| Year 2 | Ksh 1,450,884 | Ksh 1,689,116 | Ksh 3,549,116 |
| Year 3 | Ksh 2,414,771 | Ksh 2,295,229 | Ksh 2,585,229 |
| Year 4 | Ksh 3,583,324 | Ksh 2,696,677 | Ksh 1,416,676 |
| Year 5 | Ksh 5,000,000 | Ksh 2,850,001 | 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 5 years would run about Ksh 107,123/month — saving Ksh 1,422,617 in interest. See the Citibank N.A. Kenya version →