Ksh 1,000,000 loan at Ecobank Kenya for 5 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 23,123. Total cost: Ksh 1,387,400 (Ksh 387,401 interest).
Monthly repayment
Ksh 23,123
At 13.72% · 60 payments
Total repayment
Ksh 1,387,400
1.39× the borrowed amount
Total interest
Ksh 387,401
Ksh 53,890 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 149,446 | Ksh 128,034 | Ksh 850,554 |
| Year 2 | Ksh 320,737 | Ksh 234,224 | Ksh 679,263 |
| Year 3 | Ksh 517,064 | Ksh 315,377 | Ksh 482,936 |
| Year 4 | Ksh 742,087 | Ksh 367,834 | Ksh 257,913 |
| Year 5 | Ksh 1,000,000 | Ksh 387,401 | 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 5 years would run about Ksh 21,425/month — saving Ksh 101,924 in interest. See the Citibank N.A. Kenya version →