Ksh 1,000,000 loan at Ecobank Kenya for 3 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 34,042. Total cost: Ksh 1,225,504 (Ksh 225,505 interest).
Monthly repayment
Ksh 34,042
At 13.72% · 36 payments
Total repayment
Ksh 1,225,504
1.23× the borrowed amount
Total interest
Ksh 225,505
Ksh 30,218 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 289,029 | Ksh 119,472 | Ksh 710,971 |
| Year 2 | Ksh 620,304 | Ksh 196,699 | Ksh 379,696 |
| Year 3 | Ksh 1,000,000 | Ksh 225,505 | 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 3 years would run about Ksh 32,436/month — saving Ksh 57,792 in interest. See the Citibank N.A. Kenya version →