Ksh 10,000,000 loan at Kingdom Bank for 3 years.
At Kingdom Bank's current lending rate of 15.80%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 350,584. Total cost: Ksh 12,621,014 (Ksh 2,621,014 interest).
Monthly repayment
Ksh 350,584
At 15.80% · 36 payments
Total repayment
Ksh 12,621,014
1.26× the borrowed amount
Total interest
Ksh 2,621,014
Ksh 63,787 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 2,825,846 | Ksh 1,381,159 | Ksh 7,174,154 |
| Year 2 | Ksh 6,131,970 | Ksh 2,282,040 | Ksh 3,868,030 |
| Year 3 | Ksh 10,000,000 | Ksh 2,621,014 | 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 10,000,000 loan over 3 years would run about Ksh 324,365/month — saving Ksh 943,885 in interest. See the Citibank N.A. Kenya version →