Ksh 1,000,000 loan at National Bank of Kenya for 10 years.
At National Bank of Kenya's current lending rate of 15.87%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,670. Total cost: Ksh 2,000,447 (Ksh 1,000,446 interest).
Monthly repayment
Ksh 16,670
At 15.87% · 120 payments
Total repayment
Ksh 2,000,447
2.00× the borrowed amount
Total interest
Ksh 1,000,446
Ksh 31,966 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 44,489 | Ksh 155,556 | Ksh 955,511 |
| Year 2 | Ksh 96,574 | Ksh 303,515 | Ksh 903,426 |
| Year 3 | Ksh 157,555 | Ksh 442,579 | Ksh 842,445 |
| Year 4 | Ksh 228,948 | Ksh 571,230 | Ksh 771,052 |
| Year 5 | Ksh 312,534 | Ksh 687,689 | Ksh 687,466 |
| Year 6 | Ksh 410,393 | Ksh 789,875 | Ksh 589,607 |
| Year 7 | Ksh 524,964 | Ksh 875,349 | Ksh 475,036 |
| Year 8 | Ksh 659,099 | Ksh 941,258 | Ksh 340,901 |
| Year 9 | Ksh 816,141 | Ksh 984,261 | Ksh 183,859 |
| Year 10 | Ksh 1,000,000 | Ksh 1,000,446 | 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 10 years would run about Ksh 13,415/month — saving Ksh 390,619 in interest. See the Citibank N.A. Kenya version →