Ksh 10,000,000 loan at Access Bank Kenya for 2 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 508,860. Total cost: Ksh 12,212,648 (Ksh 2,212,648 interest).
Monthly repayment
Ksh 508,860
At 19.98% · 24 payments
Total repayment
Ksh 12,212,648
1.22× the borrowed amount
Total interest
Ksh 2,212,648
Ksh 525,618 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 4,506,227 | Ksh 1,600,097 | Ksh 5,493,773 |
| Year 2 | Ksh 10,000,000 | Ksh 2,212,648 | 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 2 years would run about Ksh 463,113/month — saving Ksh 1,097,945 in interest. See the Citibank N.A. Kenya version →