Ksh 5,000,000 loan at Victoria Commercial Bank for 5 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 120,742. Total cost: Ksh 7,244,507 (Ksh 2,244,508 interest).
Monthly repayment
Ksh 120,742
At 15.68% · 60 payments
Total repayment
Ksh 7,244,507
1.45× the borrowed amount
Total interest
Ksh 2,244,508
Ksh 38,053 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 714,830 | Ksh 734,072 | Ksh 4,285,170 |
| Year 2 | Ksh 1,550,161 | Ksh 1,347,642 | Ksh 3,449,839 |
| Year 3 | Ksh 2,526,308 | Ksh 1,820,397 | Ksh 2,473,692 |
| Year 4 | Ksh 3,667,007 | Ksh 2,128,599 | Ksh 1,332,993 |
| Year 5 | Ksh 5,000,000 | Ksh 2,244,508 | 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 5,000,000 loan over 5 years would run about Ksh 107,123/month — saving Ksh 817,124 in interest. See the Citibank N.A. Kenya version →