Ksh 1,000,000 loan at Kingdom Bank for 10 years.
At Kingdom Bank's current lending rate of 15.80%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,627. Total cost: Ksh 1,995,227 (Ksh 995,226 interest).
Monthly repayment
Ksh 16,627
At 15.80% · 120 payments
Total repayment
Ksh 1,995,227
2.00× the borrowed amount
Total interest
Ksh 995,226
Ksh 26,746 more 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 44,666 | Ksh 154,857 | Ksh 955,334 |
| Year 2 | Ksh 96,922 | Ksh 302,123 | Ksh 903,078 |
| Year 3 | Ksh 158,061 | Ksh 440,507 | Ksh 841,939 |
| Year 4 | Ksh 229,590 | Ksh 568,500 | Ksh 770,410 |
| Year 5 | Ksh 313,277 | Ksh 684,336 | Ksh 686,723 |
| Year 6 | Ksh 411,187 | Ksh 785,949 | Ksh 588,813 |
| Year 7 | Ksh 525,737 | Ksh 870,921 | Ksh 474,263 |
| Year 8 | Ksh 659,756 | Ksh 936,425 | Ksh 340,244 |
| Year 9 | Ksh 816,554 | Ksh 979,150 | Ksh 183,446 |
| Year 10 | Ksh 1,000,000 | Ksh 995,226 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 385,399 in interest. See the Citibank N.A. Kenya version →