Ksh 2,000,000 loan at Victoria Commercial Bank for 15 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 28,929. Total cost: Ksh 5,207,224 (Ksh 3,207,224 interest).
Monthly repayment
Ksh 28,929
At 15.68% · 180 payments
Total repayment
Ksh 5,207,224
2.60× the borrowed amount
Total interest
Ksh 3,207,224
Ksh 59,780 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 36,067 | Ksh 311,081 | Ksh 1,963,933 |
| Year 2 | Ksh 78,215 | Ksh 616,082 | Ksh 1,921,785 |
| Year 3 | Ksh 127,467 | Ksh 913,977 | Ksh 1,872,533 |
| Year 4 | Ksh 185,023 | Ksh 1,203,571 | Ksh 1,814,977 |
| Year 5 | Ksh 252,280 | Ksh 1,483,461 | Ksh 1,747,720 |
| Year 6 | Ksh 330,876 | Ksh 1,752,014 | Ksh 1,669,124 |
| Year 7 | Ksh 422,720 | Ksh 2,007,318 | Ksh 1,577,280 |
| Year 8 | Ksh 530,047 | Ksh 2,247,139 | Ksh 1,469,953 |
| Year 9 | Ksh 655,467 | Ksh 2,468,868 | Ksh 1,344,533 |
| Year 10 | Ksh 802,029 | Ksh 2,669,454 | Ksh 1,197,971 |
| Year 11 | Ksh 973,298 | Ksh 2,845,333 | Ksh 1,026,702 |
| Year 12 | Ksh 1,173,439 | Ksh 2,992,341 | Ksh 826,561 |
| Year 13 | Ksh 1,407,318 | Ksh 3,105,610 | Ksh 592,682 |
| Year 14 | Ksh 1,680,623 | Ksh 3,179,453 | Ksh 319,377 |
| Year 15 | Ksh 2,000,000 | Ksh 3,207,224 | 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 2,000,000 loan over 15 years would run about Ksh 21,935/month — saving Ksh 1,258,976 in interest. See the Citibank N.A. Kenya version →