Ksh 1,000,000 loan at Access Bank Kenya for 10 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 19,312. Total cost: Ksh 2,317,477 (Ksh 1,317,477 interest).
Monthly repayment
Ksh 19,312
At 19.98% · 120 payments
Total repayment
Ksh 2,317,477
2.32× the borrowed amount
Total interest
Ksh 1,317,477
Ksh 348,997 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 35,042 | Ksh 196,706 | Ksh 964,958 |
| Year 2 | Ksh 77,763 | Ksh 385,732 | Ksh 922,237 |
| Year 3 | Ksh 129,847 | Ksh 565,396 | Ksh 870,153 |
| Year 4 | Ksh 193,345 | Ksh 733,645 | Ksh 806,655 |
| Year 5 | Ksh 270,759 | Ksh 887,979 | Ksh 729,241 |
| Year 6 | Ksh 365,138 | Ksh 1,025,348 | Ksh 634,862 |
| Year 7 | Ksh 480,201 | Ksh 1,142,033 | Ksh 519,799 |
| Year 8 | Ksh 620,479 | Ksh 1,233,502 | Ksh 379,521 |
| Year 9 | Ksh 791,500 | Ksh 1,294,229 | Ksh 208,500 |
| Year 10 | Ksh 1,000,000 | Ksh 1,317,477 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 707,650 in interest. See the Citibank N.A. Kenya version →