Ksh 2,000,000 loan at Access Bank Kenya for 15 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 35,096. Total cost: Ksh 6,317,348 (Ksh 4,317,349 interest).
Monthly repayment
Ksh 35,096
At 19.98% · 180 payments
Total repayment
Ksh 6,317,348
3.16× the borrowed amount
Total interest
Ksh 4,317,349
Ksh 1,169,905 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 23,644 | Ksh 397,512 | Ksh 1,976,356 |
| Year 2 | Ksh 52,471 | Ksh 789,843 | Ksh 1,947,530 |
| Year 3 | Ksh 87,614 | Ksh 1,175,856 | Ksh 1,912,386 |
| Year 4 | Ksh 130,459 | Ksh 1,554,167 | Ksh 1,869,541 |
| Year 5 | Ksh 182,694 | Ksh 1,923,089 | Ksh 1,817,306 |
| Year 6 | Ksh 246,376 | Ksh 2,280,564 | Ksh 1,753,624 |
| Year 7 | Ksh 324,013 | Ksh 2,624,083 | Ksh 1,675,987 |
| Year 8 | Ksh 418,666 | Ksh 2,950,587 | Ksh 1,581,334 |
| Year 9 | Ksh 534,061 | Ksh 3,256,348 | Ksh 1,465,939 |
| Year 10 | Ksh 674,746 | Ksh 3,536,820 | Ksh 1,325,254 |
| Year 11 | Ksh 846,262 | Ksh 3,786,461 | Ksh 1,153,738 |
| Year 12 | Ksh 1,055,365 | Ksh 3,998,514 | Ksh 944,635 |
| Year 13 | Ksh 1,310,294 | Ksh 4,164,741 | Ksh 689,706 |
| Year 14 | Ksh 1,621,091 | Ksh 4,275,101 | Ksh 378,909 |
| Year 15 | Ksh 2,000,000 | Ksh 4,317,349 | 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 15 years would run about Ksh 21,935/month — saving Ksh 2,369,101 in interest. See the Citibank N.A. Kenya version →