Ksh 500,000 loan at Ecobank Kenya for 2 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 23,940. Total cost: Ksh 574,569 (Ksh 74,569 interest).
Monthly repayment
Ksh 23,940
At 13.72% · 24 payments
Total repayment
Ksh 574,569
1.15× the borrowed amount
Total interest
Ksh 74,569
Ksh 9,783 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 232,974 | Ksh 54,311 | Ksh 267,026 |
| Year 2 | Ksh 500,000 | Ksh 74,569 | 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 2 years would run about Ksh 23,156/month — saving Ksh 18,833 in interest. See the Citibank N.A. Kenya version →