Ksh 500,000 loan at Ecobank Kenya for 15 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 6,565. Total cost: Ksh 1,181,684 (Ksh 681,684 interest).
Monthly repayment
Ksh 6,565
At 13.72% · 180 payments
Total repayment
Ksh 1,181,684
2.36× the borrowed amount
Total interest
Ksh 681,684
Ksh 105,177 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 10,844 | Ksh 67,935 | Ksh 489,156 |
| Year 2 | Ksh 23,273 | Ksh 134,285 | Ksh 476,727 |
| Year 3 | Ksh 37,519 | Ksh 198,818 | Ksh 462,481 |
| Year 4 | Ksh 53,847 | Ksh 261,269 | Ksh 446,153 |
| Year 5 | Ksh 72,562 | Ksh 321,333 | Ksh 427,438 |
| Year 6 | Ksh 94,012 | Ksh 378,662 | Ksh 405,988 |
| Year 7 | Ksh 118,597 | Ksh 432,856 | Ksh 381,403 |
| Year 8 | Ksh 146,776 | Ksh 483,456 | Ksh 353,224 |
| Year 9 | Ksh 179,073 | Ksh 529,937 | Ksh 320,927 |
| Year 10 | Ksh 216,092 | Ksh 571,698 | Ksh 283,908 |
| Year 11 | Ksh 258,521 | Ksh 608,048 | Ksh 241,479 |
| Year 12 | Ksh 307,151 | Ksh 638,196 | Ksh 192,849 |
| Year 13 | Ksh 362,890 | Ksh 661,236 | Ksh 137,110 |
| Year 14 | Ksh 426,776 | Ksh 676,129 | Ksh 73,224 |
| Year 15 | Ksh 500,000 | Ksh 681,684 | 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 500,000 loan over 15 years would run about Ksh 5,484/month — saving Ksh 194,622 in interest. See the Citibank N.A. Kenya version →