Ksh 2,000,000 loan at Access Bank Kenya for 2 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 101,772. Total cost: Ksh 2,442,530 (Ksh 442,530 interest).
Monthly repayment
Ksh 101,772
At 19.98% · 24 payments
Total repayment
Ksh 2,442,530
1.22× the borrowed amount
Total interest
Ksh 442,530
Ksh 105,124 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 901,245 | Ksh 320,019 | Ksh 1,098,755 |
| Year 2 | Ksh 2,000,000 | Ksh 442,530 | 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 2 years would run about Ksh 92,623/month — saving Ksh 219,589 in interest. See the Citibank N.A. Kenya version →