Ksh 10,000,000 loan at Access Bank Kenya for 20 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 10,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 169,725. Total cost: Ksh 40,734,118 (Ksh 30,734,117 interest).
Monthly repayment
Ksh 169,725
At 19.98% · 240 payments
Total repayment
Ksh 40,734,118
4.07× the borrowed amount
Total interest
Ksh 30,734,117
Ksh 8,348,170 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 42,455 | Ksh 1,994,251 | Ksh 9,957,545 |
| Year 2 | Ksh 94,213 | Ksh 3,979,198 | Ksh 9,905,787 |
| Year 3 | Ksh 157,315 | Ksh 5,952,803 | Ksh 9,842,685 |
| Year 4 | Ksh 234,245 | Ksh 7,912,578 | Ksh 9,765,755 |
| Year 5 | Ksh 328,035 | Ksh 9,855,494 | Ksh 9,671,965 |
| Year 6 | Ksh 442,379 | Ksh 11,777,856 | Ksh 9,557,621 |
| Year 7 | Ksh 581,781 | Ksh 13,675,160 | Ksh 9,418,219 |
| Year 8 | Ksh 751,734 | Ksh 15,541,913 | Ksh 9,248,266 |
| Year 9 | Ksh 958,932 | Ksh 17,371,420 | Ksh 9,041,068 |
| Year 10 | Ksh 1,211,538 | Ksh 19,155,521 | Ksh 8,788,462 |
| Year 11 | Ksh 1,519,503 | Ksh 20,884,262 | Ksh 8,480,497 |
| Year 12 | Ksh 1,894,958 | Ksh 22,545,512 | Ksh 8,105,042 |
| Year 13 | Ksh 2,352,695 | Ksh 24,124,481 | Ksh 7,647,305 |
| Year 14 | Ksh 2,910,746 | Ksh 25,603,136 | Ksh 7,089,254 |
| Year 15 | Ksh 3,591,094 | Ksh 26,959,494 | Ksh 6,408,906 |
| Year 16 | Ksh 4,420,542 | Ksh 28,166,752 | Ksh 5,579,458 |
| Year 17 | Ksh 5,431,764 | Ksh 29,192,236 | Ksh 4,568,236 |
| Year 18 | Ksh 6,664,596 | Ksh 29,996,110 | Ksh 3,335,404 |
| Year 19 | Ksh 8,167,605 | Ksh 30,529,807 | Ksh 1,832,395 |
| Year 20 | Ksh 10,000,000 | Ksh 30,734,117 | 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 20 years would run about Ksh 98,899/month — saving Ksh 16,998,275 in interest. See the Citibank N.A. Kenya version →