Ksh 2,000,000 loan at Ecobank Kenya for 3 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 68,084. Total cost: Ksh 2,451,009 (Ksh 451,009 interest).
Monthly repayment
Ksh 68,084
At 13.72% · 36 payments
Total repayment
Ksh 2,451,009
1.23× the borrowed amount
Total interest
Ksh 451,009
Ksh 60,436 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 578,058 | Ksh 238,945 | Ksh 1,421,942 |
| Year 2 | Ksh 1,240,608 | Ksh 393,398 | Ksh 759,392 |
| Year 3 | Ksh 2,000,000 | Ksh 451,009 | 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 3 years would run about Ksh 64,873/month — saving Ksh 115,583 in interest. See the Citibank N.A. Kenya version →