Ksh 10,000,000 loan at Ecobank Kenya for 2 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 478,807. Total cost: Ksh 11,491,371 (Ksh 1,491,371 interest).
Monthly repayment
Ksh 478,807
At 13.72% · 24 payments
Total repayment
Ksh 11,491,371
1.15× the borrowed amount
Total interest
Ksh 1,491,371
Ksh 195,659 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 4,659,474 | Ksh 1,086,212 | Ksh 5,340,526 |
| Year 2 | Ksh 10,000,000 | Ksh 1,491,371 | 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 10,000,000 loan over 2 years would run about Ksh 463,113/month — saving Ksh 376,669 in interest. See the Citibank N.A. Kenya version →