Ksh 2,000,000 loan at Kingdom Bank for 15 years.
At Kingdom Bank's current lending rate of 15.80%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 29,096. Total cost: Ksh 5,237,210 (Ksh 3,237,209 interest).
Monthly repayment
Ksh 29,096
At 15.80% · 180 payments
Total repayment
Ksh 5,237,210
2.62× the borrowed amount
Total interest
Ksh 3,237,209
Ksh 89,765 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 35,656 | Ksh 313,491 | Ksh 1,964,344 |
| Year 2 | Ksh 77,373 | Ksh 620,922 | Ksh 1,922,627 |
| Year 3 | Ksh 126,179 | Ksh 921,263 | Ksh 1,873,821 |
| Year 4 | Ksh 183,281 | Ksh 1,213,309 | Ksh 1,816,719 |
| Year 5 | Ksh 250,087 | Ksh 1,495,649 | Ksh 1,749,913 |
| Year 6 | Ksh 328,248 | Ksh 1,766,636 | Ksh 1,671,752 |
| Year 7 | Ksh 419,693 | Ksh 2,024,338 | Ksh 1,580,307 |
| Year 8 | Ksh 526,680 | Ksh 2,266,499 | Ksh 1,473,320 |
| Year 9 | Ksh 651,850 | Ksh 2,490,476 | Ksh 1,348,150 |
| Year 10 | Ksh 798,294 | Ksh 2,693,179 | Ksh 1,201,706 |
| Year 11 | Ksh 969,628 | Ksh 2,870,992 | Ksh 1,030,372 |
| Year 12 | Ksh 1,170,081 | Ksh 3,019,686 | Ksh 829,919 |
| Year 13 | Ksh 1,404,603 | Ksh 3,134,311 | Ksh 595,397 |
| Year 14 | Ksh 1,678,985 | Ksh 3,209,077 | Ksh 321,015 |
| Year 15 | Ksh 2,000,000 | Ksh 3,237,209 | 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 2,000,000 loan over 15 years would run about Ksh 21,935/month — saving Ksh 1,288,961 in interest. See the Citibank N.A. Kenya version →