Ksh 5,000,000 loan at Ecobank Kenya for 3 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 170,209. Total cost: Ksh 6,127,523 (Ksh 1,127,523 interest).
Monthly repayment
Ksh 170,209
At 13.72% · 36 payments
Total repayment
Ksh 6,127,523
1.23× the borrowed amount
Total interest
Ksh 1,127,523
Ksh 151,091 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 1,445,145 | Ksh 597,362 | Ksh 3,554,855 |
| Year 2 | Ksh 3,101,521 | Ksh 983,495 | Ksh 1,898,479 |
| Year 3 | Ksh 5,000,000 | Ksh 1,127,523 | 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 3 years would run about Ksh 162,182/month — saving Ksh 288,958 in interest. See the Citibank N.A. Kenya version →