Ksh 1,000,000 loan at Kingdom Bank for 20 years.
At Kingdom Bank's current lending rate of 15.80%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 13,763. Total cost: Ksh 3,303,055 (Ksh 2,303,054 interest).
Monthly repayment
Ksh 13,763
At 15.80% · 240 payments
Total repayment
Ksh 3,303,055
3.30× the borrowed amount
Total interest
Ksh 2,303,054
Ksh 64,460 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 7,694 | Ksh 157,459 | Ksh 992,306 |
| Year 2 | Ksh 16,696 | Ksh 313,610 | Ksh 983,304 |
| Year 3 | Ksh 27,228 | Ksh 468,230 | Ksh 972,772 |
| Year 4 | Ksh 39,549 | Ksh 621,062 | Ksh 960,451 |
| Year 5 | Ksh 53,965 | Ksh 771,798 | Ksh 946,035 |
| Year 6 | Ksh 70,831 | Ksh 920,085 | Ksh 929,169 |
| Year 7 | Ksh 90,564 | Ksh 1,065,505 | Ksh 909,436 |
| Year 8 | Ksh 113,650 | Ksh 1,207,572 | Ksh 886,350 |
| Year 9 | Ksh 140,660 | Ksh 1,345,714 | Ksh 859,340 |
| Year 10 | Ksh 172,261 | Ksh 1,479,266 | Ksh 827,739 |
| Year 11 | Ksh 209,232 | Ksh 1,607,448 | Ksh 790,768 |
| Year 12 | Ksh 252,487 | Ksh 1,729,345 | Ksh 747,513 |
| Year 13 | Ksh 303,094 | Ksh 1,843,892 | Ksh 696,906 |
| Year 14 | Ksh 362,302 | Ksh 1,949,837 | Ksh 637,698 |
| Year 15 | Ksh 431,572 | Ksh 2,045,719 | Ksh 568,428 |
| Year 16 | Ksh 512,616 | Ksh 2,129,828 | Ksh 487,384 |
| Year 17 | Ksh 607,434 | Ksh 2,200,162 | Ksh 392,566 |
| Year 18 | Ksh 718,367 | Ksh 2,254,382 | Ksh 281,633 |
| Year 19 | Ksh 848,154 | Ksh 2,289,747 | Ksh 151,846 |
| Year 20 | Ksh 1,000,000 | Ksh 2,303,054 | 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 20 years would run about Ksh 9,890/month — saving Ksh 929,470 in interest. See the Citibank N.A. Kenya version →