Ksh 10,000,000 loan at Ecobank Kenya for 3 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 340,418. Total cost: Ksh 12,255,046 (Ksh 2,255,046 interest).
Monthly repayment
Ksh 340,418
At 13.72% · 36 payments
Total repayment
Ksh 12,255,046
1.23× the borrowed amount
Total interest
Ksh 2,255,046
Ksh 302,181 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 2,890,291 | Ksh 1,194,724 | Ksh 7,109,709 |
| Year 2 | Ksh 6,203,041 | Ksh 1,966,989 | Ksh 3,796,959 |
| Year 3 | Ksh 10,000,000 | Ksh 2,255,046 | 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 3 years would run about Ksh 324,365/month — saving Ksh 577,917 in interest. See the Citibank N.A. Kenya version →