Ksh 500,000 loan at Ecobank Kenya for 3 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,021. Total cost: Ksh 612,752 (Ksh 112,752 interest).
Monthly repayment
Ksh 17,021
At 13.72% · 36 payments
Total repayment
Ksh 612,752
1.23× the borrowed amount
Total interest
Ksh 112,752
Ksh 15,109 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 144,515 | Ksh 59,736 | Ksh 355,485 |
| Year 2 | Ksh 310,152 | Ksh 98,349 | Ksh 189,848 |
| Year 3 | Ksh 500,000 | Ksh 112,752 | 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 3 years would run about Ksh 16,218/month — saving Ksh 28,896 in interest. See the Citibank N.A. Kenya version →