Ksh 2,000,000 loan at Access Bank Kenya for 10 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 38,625. Total cost: Ksh 4,634,954 (Ksh 2,634,954 interest).
Monthly repayment
Ksh 38,625
At 19.98% · 120 payments
Total repayment
Ksh 4,634,954
2.32× the borrowed amount
Total interest
Ksh 2,634,954
Ksh 697,993 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 70,084 | Ksh 393,412 | Ksh 1,929,916 |
| Year 2 | Ksh 155,527 | Ksh 771,464 | Ksh 1,844,473 |
| Year 3 | Ksh 259,694 | Ksh 1,130,792 | Ksh 1,740,306 |
| Year 4 | Ksh 386,691 | Ksh 1,467,291 | Ksh 1,613,309 |
| Year 5 | Ksh 541,518 | Ksh 1,775,959 | Ksh 1,458,482 |
| Year 6 | Ksh 730,277 | Ksh 2,050,696 | Ksh 1,269,723 |
| Year 7 | Ksh 960,401 | Ksh 2,284,066 | Ksh 1,039,599 |
| Year 8 | Ksh 1,240,958 | Ksh 2,467,005 | Ksh 759,042 |
| Year 9 | Ksh 1,583,000 | Ksh 2,588,459 | Ksh 417,000 |
| Year 10 | Ksh 2,000,000 | Ksh 2,634,954 | 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 2,000,000 loan over 10 years would run about Ksh 26,830/month — saving Ksh 1,415,299 in interest. See the Citibank N.A. Kenya version →