Ksh 1,000,000 loan at Access Bank Kenya for 5 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 26,483. Total cost: Ksh 1,588,966 (Ksh 588,965 interest).
Monthly repayment
Ksh 26,483
At 19.98% · 60 payments
Total repayment
Ksh 1,588,966
1.59× the borrowed amount
Total interest
Ksh 588,965
Ksh 147,675 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 129,421 | Ksh 188,372 | Ksh 870,579 |
| Year 2 | Ksh 287,205 | Ksh 348,381 | Ksh 712,795 |
| Year 3 | Ksh 479,567 | Ksh 473,812 | Ksh 520,433 |
| Year 4 | Ksh 714,086 | Ksh 557,086 | Ksh 285,914 |
| Year 5 | Ksh 1,000,000 | Ksh 588,965 | 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 5 years would run about Ksh 21,425/month — saving Ksh 303,489 in interest. See the Citibank N.A. Kenya version →