Ksh 5,000,000 loan at Access Bank Kenya for 15 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 87,741. Total cost: Ksh 15,793,371 (Ksh 10,793,372 interest).
Monthly repayment
Ksh 87,741
At 19.98% · 180 payments
Total repayment
Ksh 15,793,371
3.16× the borrowed amount
Total interest
Ksh 10,793,372
Ksh 2,924,762 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 59,111 | Ksh 993,780 | Ksh 4,940,889 |
| Year 2 | Ksh 131,176 | Ksh 1,974,607 | Ksh 4,868,824 |
| Year 3 | Ksh 219,035 | Ksh 2,939,640 | Ksh 4,780,965 |
| Year 4 | Ksh 326,147 | Ksh 3,885,418 | Ksh 4,673,853 |
| Year 5 | Ksh 456,734 | Ksh 4,807,723 | Ksh 4,543,266 |
| Year 6 | Ksh 615,939 | Ksh 5,701,410 | Ksh 4,384,061 |
| Year 7 | Ksh 810,034 | Ksh 6,560,207 | Ksh 4,189,966 |
| Year 8 | Ksh 1,046,664 | Ksh 7,376,467 | Ksh 3,953,336 |
| Year 9 | Ksh 1,335,153 | Ksh 8,140,870 | Ksh 3,664,847 |
| Year 10 | Ksh 1,686,865 | Ksh 8,842,050 | Ksh 3,313,135 |
| Year 11 | Ksh 2,115,654 | Ksh 9,466,152 | Ksh 2,884,346 |
| Year 12 | Ksh 2,638,413 | Ksh 9,996,284 | Ksh 2,361,587 |
| Year 13 | Ksh 3,275,736 | Ksh 10,411,853 | Ksh 1,724,264 |
| Year 14 | Ksh 4,052,729 | Ksh 10,687,752 | Ksh 947,271 |
| Year 15 | Ksh 5,000,000 | Ksh 10,793,372 | 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 5,000,000 loan over 15 years would run about Ksh 54,837/month — saving Ksh 5,922,752 in interest. See the Citibank N.A. Kenya version →