Ksh 10,000,000 loan at Victoria Commercial Bank for 2 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 488,103. Total cost: Ksh 11,714,484 (Ksh 1,714,484 interest).
Monthly repayment
Ksh 488,103
At 15.68% · 24 payments
Total repayment
Ksh 11,714,484
1.17× the borrowed amount
Total interest
Ksh 1,714,484
Ksh 27,454 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 4,611,325 | Ksh 1,245,917 | Ksh 5,388,675 |
| Year 2 | Ksh 10,000,000 | Ksh 1,714,484 | 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 2 years would run about Ksh 463,113/month — saving Ksh 599,781 in interest. See the Citibank N.A. Kenya version →