Ksh 1,000,000 loan at Standard Chartered Bank Kenya for 2 years.
At Standard Chartered Bank Kenya's current lending rate of 13.35%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 47,706. Total cost: Ksh 1,144,953 (Ksh 144,953 interest).
Monthly repayment
Ksh 47,706
At 13.35% · 24 payments
Total repayment
Ksh 1,144,953
1.14× the borrowed amount
Total interest
Ksh 144,953
Ksh 23,750 less 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 466,858 | Ksh 105,619 | Ksh 533,142 |
| Year 2 | Ksh 1,000,000 | Ksh 144,953 | 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 2 years would run about Ksh 46,311/month — saving Ksh 33,483 in interest. See the Citibank N.A. Kenya version →