Ksh 1,000,000 loan at Access Bank Kenya for 25 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 16,768. Total cost: Ksh 5,030,496 (Ksh 4,030,495 interest).
Monthly repayment
Ksh 16,768
At 19.98% · 300 payments
Total repayment
Ksh 5,030,496
5.03× the borrowed amount
Total interest
Ksh 4,030,495
Ksh 1,085,306 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 1,557 | Ksh 199,662 | Ksh 998,443 |
| Year 2 | Ksh 3,456 | Ksh 398,984 | Ksh 996,544 |
| Year 3 | Ksh 5,771 | Ksh 597,889 | Ksh 994,229 |
| Year 4 | Ksh 8,593 | Ksh 796,287 | Ksh 991,407 |
| Year 5 | Ksh 12,033 | Ksh 994,066 | Ksh 987,967 |
| Year 6 | Ksh 16,227 | Ksh 1,191,091 | Ksh 983,773 |
| Year 7 | Ksh 21,341 | Ksh 1,387,198 | Ksh 978,659 |
| Year 8 | Ksh 27,575 | Ksh 1,582,183 | Ksh 972,425 |
| Year 9 | Ksh 35,176 | Ksh 1,775,803 | Ksh 964,824 |
| Year 10 | Ksh 44,442 | Ksh 1,967,756 | Ksh 955,558 |
| Year 11 | Ksh 55,739 | Ksh 2,157,679 | Ksh 944,261 |
| Year 12 | Ksh 69,511 | Ksh 2,345,127 | Ksh 930,489 |
| Year 13 | Ksh 86,302 | Ksh 2,529,556 | Ksh 913,698 |
| Year 14 | Ksh 106,772 | Ksh 2,710,305 | Ksh 893,228 |
| Year 15 | Ksh 131,729 | Ksh 2,886,568 | Ksh 868,271 |
| Year 16 | Ksh 162,155 | Ksh 3,057,362 | Ksh 837,845 |
| Year 17 | Ksh 199,249 | Ksh 3,221,488 | Ksh 800,751 |
| Year 18 | Ksh 244,472 | Ksh 3,377,485 | Ksh 755,528 |
| Year 19 | Ksh 299,605 | Ksh 3,523,571 | Ksh 700,395 |
| Year 20 | Ksh 366,821 | Ksh 3,657,575 | Ksh 633,179 |
| Year 21 | Ksh 448,768 | Ksh 3,776,848 | Ksh 551,232 |
| Year 22 | Ksh 548,673 | Ksh 3,878,163 | Ksh 451,327 |
| Year 23 | Ksh 670,473 | Ksh 3,957,583 | Ksh 329,527 |
| Year 24 | Ksh 818,965 | Ksh 4,010,310 | Ksh 181,035 |
| Year 25 | Ksh 1,000,000 | Ksh 4,030,495 | 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 25 years would run about Ksh 9,342/month — saving Ksh 2,227,894 in interest. See the Citibank N.A. Kenya version →