Ksh 10,000,000 loan at Victoria Commercial Bank for 10 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 165,524. Total cost: Ksh 19,862,926 (Ksh 9,862,925 interest).
Monthly repayment
Ksh 165,524
At 15.68% · 120 payments
Total repayment
Ksh 19,862,926
1.99× the borrowed amount
Total interest
Ksh 9,862,925
Ksh 178,121 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 449,702 | Ksh 1,536,590 | Ksh 9,550,298 |
| Year 2 | Ksh 975,213 | Ksh 2,997,372 | Ksh 9,024,787 |
| Year 3 | Ksh 1,589,311 | Ksh 4,369,566 | Ksh 8,410,689 |
| Year 4 | Ksh 2,306,931 | Ksh 5,638,239 | Ksh 7,693,069 |
| Year 5 | Ksh 3,145,523 | Ksh 6,785,940 | Ksh 6,854,477 |
| Year 6 | Ksh 4,125,479 | Ksh 7,792,276 | Ksh 5,874,521 |
| Year 7 | Ksh 5,270,631 | Ksh 8,633,417 | Ksh 4,729,369 |
| Year 8 | Ksh 6,608,826 | Ksh 9,281,514 | Ksh 3,391,174 |
| Year 9 | Ksh 8,172,607 | Ksh 9,704,026 | Ksh 1,827,393 |
| Year 10 | Ksh 10,000,000 | Ksh 9,862,925 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 3,764,651 in interest. See the Citibank N.A. Kenya version →