Ksh 1,000,000 loan at Access Bank Kenya for 20 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 16,973. Total cost: Ksh 4,073,412 (Ksh 3,073,412 interest).
Monthly repayment
Ksh 16,973
At 19.98% · 240 payments
Total repayment
Ksh 4,073,412
4.07× the borrowed amount
Total interest
Ksh 3,073,412
Ksh 834,817 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 4,245 | Ksh 199,425 | Ksh 995,755 |
| Year 2 | Ksh 9,421 | Ksh 397,920 | Ksh 990,579 |
| Year 3 | Ksh 15,731 | Ksh 595,280 | Ksh 984,269 |
| Year 4 | Ksh 23,425 | Ksh 791,258 | Ksh 976,575 |
| Year 5 | Ksh 32,804 | Ksh 985,549 | Ksh 967,197 |
| Year 6 | Ksh 44,238 | Ksh 1,177,786 | Ksh 955,762 |
| Year 7 | Ksh 58,178 | Ksh 1,367,516 | Ksh 941,822 |
| Year 8 | Ksh 75,173 | Ksh 1,554,191 | Ksh 924,827 |
| Year 9 | Ksh 95,893 | Ksh 1,737,142 | Ksh 904,107 |
| Year 10 | Ksh 121,154 | Ksh 1,915,552 | Ksh 878,846 |
| Year 11 | Ksh 151,950 | Ksh 2,088,426 | Ksh 848,050 |
| Year 12 | Ksh 189,496 | Ksh 2,254,551 | Ksh 810,504 |
| Year 13 | Ksh 235,270 | Ksh 2,412,448 | Ksh 764,730 |
| Year 14 | Ksh 291,075 | Ksh 2,560,314 | Ksh 708,925 |
| Year 15 | Ksh 359,109 | Ksh 2,695,949 | Ksh 640,891 |
| Year 16 | Ksh 442,054 | Ksh 2,816,675 | Ksh 557,946 |
| Year 17 | Ksh 543,176 | Ksh 2,919,224 | Ksh 456,824 |
| Year 18 | Ksh 666,460 | Ksh 2,999,611 | Ksh 333,540 |
| Year 19 | Ksh 816,760 | Ksh 3,052,981 | Ksh 183,240 |
| Year 20 | Ksh 1,000,000 | Ksh 3,073,412 | 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 20 years would run about Ksh 9,890/month — saving Ksh 1,699,827 in interest. See the Citibank N.A. Kenya version →