Ksh 1,000,000 loan at Ecobank Kenya for 10 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 15,359. Total cost: Ksh 1,843,048 (Ksh 843,048 interest).
Monthly repayment
Ksh 15,359
At 13.72% · 120 payments
Total repayment
Ksh 1,843,048
1.84× the borrowed amount
Total interest
Ksh 843,048
Ksh 125,432 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 50,183 | Ksh 134,122 | Ksh 949,817 |
| Year 2 | Ksh 107,700 | Ksh 260,909 | Ksh 892,300 |
| Year 3 | Ksh 173,625 | Ksh 379,289 | Ksh 826,375 |
| Year 4 | Ksh 249,186 | Ksh 488,033 | Ksh 750,814 |
| Year 5 | Ksh 335,791 | Ksh 585,733 | Ksh 664,209 |
| Year 6 | Ksh 435,055 | Ksh 670,774 | Ksh 564,945 |
| Year 7 | Ksh 548,827 | Ksh 741,306 | Ksh 451,173 |
| Year 8 | Ksh 679,229 | Ksh 795,209 | Ksh 320,771 |
| Year 9 | Ksh 828,692 | Ksh 830,052 | Ksh 171,308 |
| Year 10 | Ksh 1,000,000 | Ksh 843,048 | 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 10 years would run about Ksh 13,415/month — saving Ksh 233,221 in interest. See the Citibank N.A. Kenya version →