Ksh 10,000,000 loan at Access Bank Kenya for 3 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 371,534. Total cost: Ksh 13,375,222 (Ksh 3,375,222 interest).
Monthly repayment
Ksh 371,534
At 19.98% · 36 payments
Total repayment
Ksh 13,375,222
1.34× the borrowed amount
Total interest
Ksh 3,375,222
Ksh 817,995 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 2,698,705 | Ksh 1,759,702 | Ksh 7,301,295 |
| Year 2 | Ksh 5,988,835 | Ksh 2,927,980 | Ksh 4,011,165 |
| Year 3 | Ksh 10,000,000 | Ksh 3,375,222 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,698,093 in interest. See the Citibank N.A. Kenya version →