Ksh 1,000,000 loan at Ecobank Kenya for 1 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 1,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 89,655. Total cost: Ksh 1,075,865 (Ksh 75,865 interest).
Monthly repayment
Ksh 89,655
At 13.72% · 12 payments
Total repayment
Ksh 1,075,865
1.08× the borrowed amount
Total interest
Ksh 75,865
Ksh 9,728 less 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 1,000,000 | Ksh 75,865 | 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 1,000,000 loan over 1 years would run about Ksh 88,083/month — saving Ksh 18,864 in interest. See the Citibank N.A. Kenya version →