Ksh 1,000,000 loan at National Bank of Kenya for 15 years.
At National Bank of Kenya's current lending rate of 15.87%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 14,596. Total cost: Ksh 2,627,365 (Ksh 1,627,365 interest).
Monthly repayment
Ksh 14,596
At 15.87% · 180 payments
Total repayment
Ksh 2,627,365
2.63× the borrowed amount
Total interest
Ksh 1,627,365
Ksh 53,643 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 17,709 | Ksh 157,449 | Ksh 982,291 |
| Year 2 | Ksh 38,442 | Ksh 311,873 | Ksh 961,558 |
| Year 3 | Ksh 62,716 | Ksh 462,757 | Ksh 937,284 |
| Year 4 | Ksh 91,135 | Ksh 609,495 | Ksh 908,865 |
| Year 5 | Ksh 124,407 | Ksh 751,381 | Ksh 875,593 |
| Year 6 | Ksh 163,361 | Ksh 887,585 | Ksh 836,639 |
| Year 7 | Ksh 208,967 | Ksh 1,017,136 | Ksh 791,033 |
| Year 8 | Ksh 262,361 | Ksh 1,138,900 | Ksh 737,639 |
| Year 9 | Ksh 324,873 | Ksh 1,251,546 | Ksh 675,127 |
| Year 10 | Ksh 398,060 | Ksh 1,353,517 | Ksh 601,940 |
| Year 11 | Ksh 483,745 | Ksh 1,442,989 | Ksh 516,255 |
| Year 12 | Ksh 584,062 | Ksh 1,517,830 | Ksh 415,938 |
| Year 13 | Ksh 701,510 | Ksh 1,575,539 | Ksh 298,490 |
| Year 14 | Ksh 839,014 | Ksh 1,613,193 | Ksh 160,986 |
| Year 15 | Ksh 1,000,000 | Ksh 1,627,365 | 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 15 years would run about Ksh 10,967/month — saving Ksh 653,241 in interest. See the Citibank N.A. Kenya version →