Ksh 2,000,000 loan at Access Bank Kenya for 3 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 74,307. Total cost: Ksh 2,675,044 (Ksh 675,044 interest).
Monthly repayment
Ksh 74,307
At 19.98% · 36 payments
Total repayment
Ksh 2,675,044
1.34× the borrowed amount
Total interest
Ksh 675,044
Ksh 163,599 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 539,741 | Ksh 351,940 | Ksh 1,460,259 |
| Year 2 | Ksh 1,197,767 | Ksh 585,596 | Ksh 802,233 |
| Year 3 | Ksh 2,000,000 | Ksh 675,044 | 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 3 years would run about Ksh 64,873/month — saving Ksh 339,619 in interest. See the Citibank N.A. Kenya version →