Ksh 10,000,000 loan at National Bank of Kenya for 2 years.
At National Bank of Kenya's current lending rate of 15.87%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 489,010. Total cost: Ksh 11,736,244 (Ksh 1,736,244 interest).
Monthly repayment
Ksh 489,010
At 15.87% · 24 payments
Total repayment
Ksh 11,736,244
1.17× the borrowed amount
Total interest
Ksh 1,736,244
Ksh 49,214 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 4,606,665 | Ksh 1,261,457 | Ksh 5,393,335 |
| Year 2 | Ksh 10,000,000 | Ksh 1,736,244 | 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 10,000,000 loan over 2 years would run about Ksh 463,113/month — saving Ksh 621,542 in interest. See the Citibank N.A. Kenya version →