Ksh 1,000,000 loan at Victoria Commercial Bank for 10 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,552. Total cost: Ksh 1,986,293 (Ksh 986,293 interest).
Monthly repayment
Ksh 16,552
At 15.68% · 120 payments
Total repayment
Ksh 1,986,293
1.99× the borrowed amount
Total interest
Ksh 986,293
Ksh 17,812 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 44,970 | Ksh 153,659 | Ksh 955,030 |
| Year 2 | Ksh 97,521 | Ksh 299,737 | Ksh 902,479 |
| Year 3 | Ksh 158,931 | Ksh 436,957 | Ksh 841,069 |
| Year 4 | Ksh 230,693 | Ksh 563,824 | Ksh 769,307 |
| Year 5 | Ksh 314,552 | Ksh 678,594 | Ksh 685,448 |
| Year 6 | Ksh 412,548 | Ksh 779,228 | Ksh 587,452 |
| Year 7 | Ksh 527,063 | Ksh 863,342 | Ksh 472,937 |
| Year 8 | Ksh 660,883 | Ksh 928,151 | Ksh 339,117 |
| Year 9 | Ksh 817,261 | Ksh 970,403 | Ksh 182,739 |
| Year 10 | Ksh 1,000,000 | Ksh 986,293 | 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 10 years would run about Ksh 13,415/month — saving Ksh 376,465 in interest. See the Citibank N.A. Kenya version →