Ksh 10,000,000 loan at National Bank of Kenya for 3 years.
At National Bank of Kenya's current lending rate of 15.87%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 350,929. Total cost: Ksh 12,633,439 (Ksh 2,633,439 interest).
Monthly repayment
Ksh 350,929
At 15.87% · 36 payments
Total repayment
Ksh 12,633,439
1.26× the borrowed amount
Total interest
Ksh 2,633,439
Ksh 76,212 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 2,823,690 | Ksh 1,387,456 | Ksh 7,176,310 |
| Year 2 | Ksh 6,129,576 | Ksh 2,292,717 | Ksh 3,870,424 |
| Year 3 | Ksh 10,000,000 | Ksh 2,633,439 | 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 3 years would run about Ksh 324,365/month — saving Ksh 956,310 in interest. See the Citibank N.A. Kenya version →