Ksh 10,000,000 loan at Victoria Commercial Bank for 5 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 241,484. Total cost: Ksh 14,489,015 (Ksh 4,489,015 interest).
Monthly repayment
Ksh 241,484
At 15.68% · 60 payments
Total repayment
Ksh 14,489,015
1.45× the borrowed amount
Total interest
Ksh 4,489,015
Ksh 76,106 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 1,429,659 | Ksh 1,468,144 | Ksh 8,570,341 |
| Year 2 | Ksh 3,100,322 | Ksh 2,695,284 | Ksh 6,899,678 |
| Year 3 | Ksh 5,052,615 | Ksh 3,640,794 | Ksh 4,947,385 |
| Year 4 | Ksh 7,334,015 | Ksh 4,257,197 | Ksh 2,665,985 |
| Year 5 | Ksh 10,000,000 | Ksh 4,489,015 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,634,247 in interest. See the Citibank N.A. Kenya version →