Ksh 500,000 loan at National Bank of Kenya for 2 years.
At National Bank of Kenya's current lending rate of 15.87%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,451. Total cost: Ksh 586,812 (Ksh 86,812 interest).
Monthly repayment
Ksh 24,451
At 15.87% · 24 payments
Total repayment
Ksh 586,812
1.17× the borrowed amount
Total interest
Ksh 86,812
Ksh 2,461 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 230,333 | Ksh 63,073 | Ksh 269,667 |
| Year 2 | Ksh 500,000 | Ksh 86,812 | 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 2 years would run about Ksh 23,156/month — saving Ksh 31,077 in interest. See the Citibank N.A. Kenya version →