Ksh 5,000,000 loan at Ecobank Kenya for 5 years.
At Ecobank Kenya's current lending rate of 13.72%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 115,617. Total cost: Ksh 6,937,003 (Ksh 1,937,003 interest).
Monthly repayment
Ksh 115,617
At 13.72% · 60 payments
Total repayment
Ksh 6,937,003
1.39× the borrowed amount
Total interest
Ksh 1,937,003
Ksh 269,451 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 747,232 | Ksh 640,169 | Ksh 4,252,768 |
| Year 2 | Ksh 1,603,683 | Ksh 1,171,118 | Ksh 3,396,317 |
| Year 3 | Ksh 2,585,318 | Ksh 1,576,884 | Ksh 2,414,682 |
| Year 4 | Ksh 3,710,433 | Ksh 1,839,170 | Ksh 1,289,567 |
| Year 5 | Ksh 5,000,000 | Ksh 1,937,003 | 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 5 years would run about Ksh 107,123/month — saving Ksh 509,619 in interest. See the Citibank N.A. Kenya version →