Ksh 500,000 loan at Access Bank Kenya for 20 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 8,486. Total cost: Ksh 2,036,705 (Ksh 1,536,706 interest).
Monthly repayment
Ksh 8,486
At 19.98% · 240 payments
Total repayment
Ksh 2,036,705
4.07× the borrowed amount
Total interest
Ksh 1,536,706
Ksh 417,409 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 2,123 | Ksh 99,713 | Ksh 497,877 |
| Year 2 | Ksh 4,711 | Ksh 198,960 | Ksh 495,289 |
| Year 3 | Ksh 7,866 | Ksh 297,640 | Ksh 492,134 |
| Year 4 | Ksh 11,712 | Ksh 395,629 | Ksh 488,288 |
| Year 5 | Ksh 16,402 | Ksh 492,775 | Ksh 483,598 |
| Year 6 | Ksh 22,119 | Ksh 588,893 | Ksh 477,881 |
| Year 7 | Ksh 29,089 | Ksh 683,758 | Ksh 470,911 |
| Year 8 | Ksh 37,587 | Ksh 777,096 | Ksh 462,413 |
| Year 9 | Ksh 47,947 | Ksh 868,571 | Ksh 452,053 |
| Year 10 | Ksh 60,577 | Ksh 957,776 | Ksh 439,423 |
| Year 11 | Ksh 75,975 | Ksh 1,044,213 | Ksh 424,025 |
| Year 12 | Ksh 94,748 | Ksh 1,127,276 | Ksh 405,252 |
| Year 13 | Ksh 117,635 | Ksh 1,206,224 | Ksh 382,365 |
| Year 14 | Ksh 145,537 | Ksh 1,280,157 | Ksh 354,463 |
| Year 15 | Ksh 179,555 | Ksh 1,347,975 | Ksh 320,445 |
| Year 16 | Ksh 221,027 | Ksh 1,408,338 | Ksh 278,973 |
| Year 17 | Ksh 271,588 | Ksh 1,459,612 | Ksh 228,412 |
| Year 18 | Ksh 333,230 | Ksh 1,499,805 | Ksh 166,770 |
| Year 19 | Ksh 408,380 | Ksh 1,526,490 | Ksh 91,620 |
| Year 20 | Ksh 500,000 | Ksh 1,536,706 | 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 20 years would run about Ksh 4,945/month — saving Ksh 849,914 in interest. See the Citibank N.A. Kenya version →