Ksh 1,000,000 loan at Access Bank Kenya for 3 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 37,153. Total cost: Ksh 1,337,522 (Ksh 337,522 interest).
Monthly repayment
Ksh 37,153
At 19.98% · 36 payments
Total repayment
Ksh 1,337,522
1.34× the borrowed amount
Total interest
Ksh 337,522
Ksh 81,799 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 269,871 | Ksh 175,970 | Ksh 730,130 |
| Year 2 | Ksh 598,883 | Ksh 292,798 | Ksh 401,117 |
| Year 3 | Ksh 1,000,000 | Ksh 337,522 | 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 3 years would run about Ksh 32,436/month — saving Ksh 169,809 in interest. See the Citibank N.A. Kenya version →