Ksh 2,000,000 loan at Access Bank Kenya for 20 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 2,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 33,945. Total cost: Ksh 8,146,824 (Ksh 6,146,823 interest).
Monthly repayment
Ksh 33,945
At 19.98% · 240 payments
Total repayment
Ksh 8,146,824
4.07× the borrowed amount
Total interest
Ksh 6,146,823
Ksh 1,669,634 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 8,491 | Ksh 398,850 | Ksh 1,991,509 |
| Year 2 | Ksh 18,843 | Ksh 795,840 | Ksh 1,981,157 |
| Year 3 | Ksh 31,463 | Ksh 1,190,561 | Ksh 1,968,537 |
| Year 4 | Ksh 46,849 | Ksh 1,582,516 | Ksh 1,953,151 |
| Year 5 | Ksh 65,607 | Ksh 1,971,099 | Ksh 1,934,393 |
| Year 6 | Ksh 88,476 | Ksh 2,355,571 | Ksh 1,911,524 |
| Year 7 | Ksh 116,356 | Ksh 2,735,032 | Ksh 1,883,644 |
| Year 8 | Ksh 150,347 | Ksh 3,108,383 | Ksh 1,849,653 |
| Year 9 | Ksh 191,786 | Ksh 3,474,284 | Ksh 1,808,214 |
| Year 10 | Ksh 242,308 | Ksh 3,831,104 | Ksh 1,757,692 |
| Year 11 | Ksh 303,901 | Ksh 4,176,852 | Ksh 1,696,099 |
| Year 12 | Ksh 378,992 | Ksh 4,509,102 | Ksh 1,621,008 |
| Year 13 | Ksh 470,539 | Ksh 4,824,896 | Ksh 1,529,461 |
| Year 14 | Ksh 582,149 | Ksh 5,120,627 | Ksh 1,417,851 |
| Year 15 | Ksh 718,219 | Ksh 5,391,899 | Ksh 1,281,781 |
| Year 16 | Ksh 884,108 | Ksh 5,633,350 | Ksh 1,115,892 |
| Year 17 | Ksh 1,086,353 | Ksh 5,838,447 | Ksh 913,647 |
| Year 18 | Ksh 1,332,919 | Ksh 5,999,222 | Ksh 667,081 |
| Year 19 | Ksh 1,633,521 | Ksh 6,105,961 | Ksh 366,479 |
| Year 20 | Ksh 2,000,000 | Ksh 6,146,823 | 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 20 years would run about Ksh 19,780/month — saving Ksh 3,399,655 in interest. See the Citibank N.A. Kenya version →