Ksh 1,000,000 loan at Access Bank Kenya for 15 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 17,548. Total cost: Ksh 3,158,674 (Ksh 2,158,674 interest).
Monthly repayment
Ksh 17,548
At 19.98% · 180 payments
Total repayment
Ksh 3,158,674
3.16× the borrowed amount
Total interest
Ksh 2,158,674
Ksh 584,952 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 11,822 | Ksh 198,756 | Ksh 988,178 |
| Year 2 | Ksh 26,235 | Ksh 394,921 | Ksh 973,765 |
| Year 3 | Ksh 43,807 | Ksh 587,928 | Ksh 956,193 |
| Year 4 | Ksh 65,229 | Ksh 777,084 | Ksh 934,771 |
| Year 5 | Ksh 91,347 | Ksh 961,545 | Ksh 908,653 |
| Year 6 | Ksh 123,188 | Ksh 1,140,282 | Ksh 876,812 |
| Year 7 | Ksh 162,007 | Ksh 1,312,041 | Ksh 837,993 |
| Year 8 | Ksh 209,333 | Ksh 1,475,293 | Ksh 790,667 |
| Year 9 | Ksh 267,031 | Ksh 1,628,174 | Ksh 732,969 |
| Year 10 | Ksh 337,373 | Ksh 1,768,410 | Ksh 662,627 |
| Year 11 | Ksh 423,131 | Ksh 1,893,230 | Ksh 576,869 |
| Year 12 | Ksh 527,683 | Ksh 1,999,257 | Ksh 472,317 |
| Year 13 | Ksh 655,147 | Ksh 2,082,371 | Ksh 344,853 |
| Year 14 | Ksh 810,546 | Ksh 2,137,550 | Ksh 189,454 |
| Year 15 | Ksh 1,000,000 | Ksh 2,158,674 | 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 15 years would run about Ksh 10,967/month — saving Ksh 1,184,550 in interest. See the Citibank N.A. Kenya version →