Ksh 500,000 loan at Kingdom Bank for 15 years.
At Kingdom Bank's current lending rate of 15.80%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 7,274. Total cost: Ksh 1,309,302 (Ksh 809,302 interest).
Monthly repayment
Ksh 7,274
At 15.80% · 180 payments
Total repayment
Ksh 1,309,302
2.62× the borrowed amount
Total interest
Ksh 809,302
Ksh 22,441 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 8,914 | Ksh 78,373 | Ksh 491,086 |
| Year 2 | Ksh 19,343 | Ksh 155,231 | Ksh 480,657 |
| Year 3 | Ksh 31,545 | Ksh 230,316 | Ksh 468,455 |
| Year 4 | Ksh 45,820 | Ksh 303,327 | Ksh 454,180 |
| Year 5 | Ksh 62,522 | Ksh 373,912 | Ksh 437,478 |
| Year 6 | Ksh 82,062 | Ksh 441,659 | Ksh 417,938 |
| Year 7 | Ksh 104,923 | Ksh 506,085 | Ksh 395,077 |
| Year 8 | Ksh 131,670 | Ksh 566,625 | Ksh 368,330 |
| Year 9 | Ksh 162,962 | Ksh 622,619 | Ksh 337,038 |
| Year 10 | Ksh 199,574 | Ksh 673,295 | Ksh 300,426 |
| Year 11 | Ksh 242,407 | Ksh 717,748 | Ksh 257,593 |
| Year 12 | Ksh 292,520 | Ksh 754,922 | Ksh 207,480 |
| Year 13 | Ksh 351,151 | Ksh 783,578 | Ksh 148,849 |
| Year 14 | Ksh 419,746 | Ksh 802,269 | Ksh 80,254 |
| Year 15 | Ksh 500,000 | Ksh 809,302 | 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 500,000 loan over 15 years would run about Ksh 5,484/month — saving Ksh 322,240 in interest. See the Citibank N.A. Kenya version →