Ksh 10,000,000 loan at Access Bank Kenya for 10 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 193,123. Total cost: Ksh 23,174,771 (Ksh 13,174,770 interest).
Monthly repayment
Ksh 193,123
At 19.98% · 120 payments
Total repayment
Ksh 23,174,771
2.32× the borrowed amount
Total interest
Ksh 13,174,770
Ksh 3,489,966 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 350,419 | Ksh 1,967,058 | Ksh 9,649,581 |
| Year 2 | Ksh 777,634 | Ksh 3,857,321 | Ksh 9,222,367 |
| Year 3 | Ksh 1,298,472 | Ksh 5,653,959 | Ksh 8,701,528 |
| Year 4 | Ksh 1,933,453 | Ksh 7,336,455 | Ksh 8,066,547 |
| Year 5 | Ksh 2,707,591 | Ksh 8,879,794 | Ksh 7,292,409 |
| Year 6 | Ksh 3,651,383 | Ksh 10,253,480 | Ksh 6,348,617 |
| Year 7 | Ksh 4,802,007 | Ksh 11,420,332 | Ksh 5,197,993 |
| Year 8 | Ksh 6,204,792 | Ksh 12,335,024 | Ksh 3,795,208 |
| Year 9 | Ksh 7,914,999 | Ksh 12,942,294 | Ksh 2,085,001 |
| Year 10 | Ksh 10,000,000 | Ksh 13,174,770 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 7,076,496 in interest. See the Citibank N.A. Kenya version →