Ksh 5,000,000 loan at Ecobank Kenya for 10 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 76,794. Total cost: Ksh 9,215,240 (Ksh 4,215,240 interest).
Monthly repayment
Ksh 76,794
At 13.72% · 120 payments
Total repayment
Ksh 9,215,240
1.84× the borrowed amount
Total interest
Ksh 4,215,240
Ksh 627,162 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 250,914 | Ksh 670,610 | Ksh 4,749,086 |
| Year 2 | Ksh 538,502 | Ksh 1,304,546 | Ksh 4,461,498 |
| Year 3 | Ksh 868,126 | Ksh 1,896,446 | Ksh 4,131,874 |
| Year 4 | Ksh 1,245,930 | Ksh 2,440,166 | Ksh 3,754,070 |
| Year 5 | Ksh 1,678,955 | Ksh 2,928,665 | Ksh 3,321,045 |
| Year 6 | Ksh 2,175,273 | Ksh 3,353,871 | Ksh 2,824,727 |
| Year 7 | Ksh 2,744,136 | Ksh 3,706,532 | Ksh 2,255,864 |
| Year 8 | Ksh 3,396,146 | Ksh 3,976,046 | Ksh 1,603,854 |
| Year 9 | Ksh 4,143,458 | Ksh 4,150,258 | Ksh 856,542 |
| Year 10 | Ksh 5,000,000 | Ksh 4,215,240 | 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 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 1,166,103 in interest. See the Citibank N.A. Kenya version →