Ksh 10,000,000 loan at Ecobank Kenya for 5 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 231,233. Total cost: Ksh 13,874,006 (Ksh 3,874,006 interest).
Monthly repayment
Ksh 231,233
At 13.72% · 60 payments
Total repayment
Ksh 13,874,006
1.39× the borrowed amount
Total interest
Ksh 3,874,006
Ksh 538,903 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 1,494,464 | Ksh 1,280,337 | Ksh 8,505,536 |
| Year 2 | Ksh 3,207,366 | Ksh 2,342,236 | Ksh 6,792,634 |
| Year 3 | Ksh 5,170,635 | Ksh 3,153,769 | Ksh 4,829,365 |
| Year 4 | Ksh 7,420,865 | Ksh 3,678,340 | Ksh 2,579,135 |
| Year 5 | Ksh 10,000,000 | Ksh 3,874,006 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,019,239 in interest. See the Citibank N.A. Kenya version →