Ksh 500,000 loan at Access Bank Kenya for 2 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 25,443. Total cost: Ksh 610,632 (Ksh 110,632 interest).
Monthly repayment
Ksh 25,443
At 19.98% · 24 payments
Total repayment
Ksh 610,632
1.22× the borrowed amount
Total interest
Ksh 110,632
Ksh 26,281 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 225,311 | Ksh 80,005 | Ksh 274,689 |
| Year 2 | Ksh 500,000 | Ksh 110,632 | 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 2 years would run about Ksh 23,156/month — saving Ksh 54,897 in interest. See the Citibank N.A. Kenya version →