Ksh 1,000,000 loan at Victoria Commercial Bank for 2 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 48,810. Total cost: Ksh 1,171,448 (Ksh 171,448 interest).
Monthly repayment
Ksh 48,810
At 15.68% · 24 payments
Total repayment
Ksh 1,171,448
1.17× the borrowed amount
Total interest
Ksh 171,448
Ksh 2,745 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 461,132 | Ksh 124,592 | Ksh 538,868 |
| Year 2 | Ksh 1,000,000 | Ksh 171,448 | 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 59,978 in interest. See the Citibank N.A. Kenya version →