Ksh 1,000,000 loan at Victoria Commercial Bank for 3 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 34,999. Total cost: Ksh 1,259,973 (Ksh 259,973 interest).
Monthly repayment
Ksh 34,999
At 15.68% · 36 payments
Total repayment
Ksh 1,259,973
1.26× the borrowed amount
Total interest
Ksh 259,973
Ksh 4,250 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 282,954 | Ksh 137,037 | Ksh 717,046 |
| Year 2 | Ksh 613,607 | Ksh 226,375 | Ksh 386,393 |
| Year 3 | Ksh 1,000,000 | Ksh 259,973 | 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 3 years would run about Ksh 32,436/month — saving Ksh 92,260 in interest. See the Citibank N.A. Kenya version →