Ksh 500,000 loan at Victoria Commercial Bank for 2 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,405. Total cost: Ksh 585,724 (Ksh 85,724 interest).
Monthly repayment
Ksh 24,405
At 15.68% · 24 payments
Total repayment
Ksh 585,724
1.17× the borrowed amount
Total interest
Ksh 85,724
Ksh 1,373 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 230,566 | Ksh 62,296 | Ksh 269,434 |
| Year 2 | Ksh 500,000 | Ksh 85,724 | 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 500,000 loan over 2 years would run about Ksh 23,156/month — saving Ksh 29,989 in interest. See the Citibank N.A. Kenya version →