Ksh 1,000,000 loan at Ecobank Kenya for 15 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 13,130. Total cost: Ksh 2,363,368 (Ksh 1,363,368 interest).
Monthly repayment
Ksh 13,130
At 13.72% · 180 payments
Total repayment
Ksh 2,363,368
2.36× the borrowed amount
Total interest
Ksh 1,363,368
Ksh 210,353 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 21,688 | Ksh 135,870 | Ksh 978,312 |
| Year 2 | Ksh 46,546 | Ksh 268,569 | Ksh 953,454 |
| Year 3 | Ksh 75,038 | Ksh 397,636 | Ksh 924,962 |
| Year 4 | Ksh 107,694 | Ksh 522,538 | Ksh 892,306 |
| Year 5 | Ksh 145,123 | Ksh 642,666 | Ksh 854,877 |
| Year 6 | Ksh 188,023 | Ksh 757,324 | Ksh 811,977 |
| Year 7 | Ksh 237,194 | Ksh 865,711 | Ksh 762,806 |
| Year 8 | Ksh 293,551 | Ksh 966,912 | Ksh 706,449 |
| Year 9 | Ksh 358,146 | Ksh 1,059,875 | Ksh 641,854 |
| Year 10 | Ksh 432,183 | Ksh 1,143,396 | Ksh 567,817 |
| Year 11 | Ksh 517,041 | Ksh 1,216,096 | Ksh 482,959 |
| Year 12 | Ksh 614,303 | Ksh 1,276,392 | Ksh 385,697 |
| Year 13 | Ksh 725,781 | Ksh 1,322,472 | Ksh 274,219 |
| Year 14 | Ksh 853,552 | Ksh 1,352,258 | Ksh 146,448 |
| Year 15 | Ksh 1,000,000 | Ksh 1,363,368 | 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 15 years would run about Ksh 10,967/month — saving Ksh 389,245 in interest. See the Citibank N.A. Kenya version →