Ksh 2,000,000 loan at Ecobank Kenya for 2 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 95,761. Total cost: Ksh 2,298,274 (Ksh 298,274 interest).
Monthly repayment
Ksh 95,761
At 13.72% · 24 payments
Total repayment
Ksh 2,298,274
1.15× the borrowed amount
Total interest
Ksh 298,274
Ksh 39,132 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 931,895 | Ksh 217,242 | Ksh 1,068,105 |
| Year 2 | Ksh 2,000,000 | Ksh 298,274 | 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 2,000,000 loan over 2 years would run about Ksh 92,623/month — saving Ksh 75,334 in interest. See the Citibank N.A. Kenya version →