Ksh 500,000 loan at Access Bank Kenya for 15 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 8,774. Total cost: Ksh 1,579,338 (Ksh 1,079,337 interest).
Monthly repayment
Ksh 8,774
At 19.98% · 180 payments
Total repayment
Ksh 1,579,338
3.16× the borrowed amount
Total interest
Ksh 1,079,337
Ksh 292,476 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 5,911 | Ksh 99,378 | Ksh 494,089 |
| Year 2 | Ksh 13,118 | Ksh 197,461 | Ksh 486,882 |
| Year 3 | Ksh 21,903 | Ksh 293,964 | Ksh 478,097 |
| Year 4 | Ksh 32,615 | Ksh 388,542 | Ksh 467,385 |
| Year 5 | Ksh 45,673 | Ksh 480,772 | Ksh 454,327 |
| Year 6 | Ksh 61,594 | Ksh 570,141 | Ksh 438,406 |
| Year 7 | Ksh 81,003 | Ksh 656,021 | Ksh 418,997 |
| Year 8 | Ksh 104,666 | Ksh 737,647 | Ksh 395,334 |
| Year 9 | Ksh 133,515 | Ksh 814,087 | Ksh 366,485 |
| Year 10 | Ksh 168,686 | Ksh 884,205 | Ksh 331,314 |
| Year 11 | Ksh 211,565 | Ksh 946,615 | Ksh 288,435 |
| Year 12 | Ksh 263,841 | Ksh 999,628 | Ksh 236,159 |
| Year 13 | Ksh 327,574 | Ksh 1,041,185 | Ksh 172,426 |
| Year 14 | Ksh 405,273 | Ksh 1,068,775 | Ksh 94,727 |
| Year 15 | Ksh 500,000 | Ksh 1,079,337 | 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 15 years would run about Ksh 5,484/month — saving Ksh 592,275 in interest. See the Citibank N.A. Kenya version →