Ksh 500,000 loan at Access Bank Kenya for 10 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 9,656. Total cost: Ksh 1,158,738 (Ksh 658,739 interest).
Monthly repayment
Ksh 9,656
At 19.98% · 120 payments
Total repayment
Ksh 1,158,738
2.32× the borrowed amount
Total interest
Ksh 658,739
Ksh 174,498 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 17,521 | Ksh 98,353 | Ksh 482,479 |
| Year 2 | Ksh 38,882 | Ksh 192,866 | Ksh 461,118 |
| Year 3 | Ksh 64,924 | Ksh 282,698 | Ksh 435,076 |
| Year 4 | Ksh 96,673 | Ksh 366,823 | Ksh 403,327 |
| Year 5 | Ksh 135,380 | Ksh 443,990 | Ksh 364,620 |
| Year 6 | Ksh 182,569 | Ksh 512,674 | Ksh 317,431 |
| Year 7 | Ksh 240,100 | Ksh 571,017 | Ksh 259,900 |
| Year 8 | Ksh 310,240 | Ksh 616,751 | Ksh 189,760 |
| Year 9 | Ksh 395,750 | Ksh 647,115 | Ksh 104,250 |
| Year 10 | Ksh 500,000 | Ksh 658,739 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 353,825 in interest. See the Citibank N.A. Kenya version →