Ksh 2,000,000 loan at Kingdom Bank for 3 years.
At Kingdom Bank's current lending rate of 15.80%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 70,117. Total cost: Ksh 2,524,203 (Ksh 524,203 interest).
Monthly repayment
Ksh 70,117
At 15.80% · 36 payments
Total repayment
Ksh 2,524,203
1.26× the borrowed amount
Total interest
Ksh 524,203
Ksh 12,757 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 565,169 | Ksh 276,232 | Ksh 1,434,831 |
| Year 2 | Ksh 1,226,394 | Ksh 456,408 | Ksh 773,606 |
| Year 3 | Ksh 2,000,000 | Ksh 524,203 | 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 3 years would run about Ksh 64,873/month — saving Ksh 188,777 in interest. See the Citibank N.A. Kenya version →