Ksh 5,000,000 loan at Access Bank Kenya for 2 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 254,430. Total cost: Ksh 6,106,324 (Ksh 1,106,324 interest).
Monthly repayment
Ksh 254,430
At 19.98% · 24 payments
Total repayment
Ksh 6,106,324
1.22× the borrowed amount
Total interest
Ksh 1,106,324
Ksh 262,809 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 2,253,114 | Ksh 800,048 | Ksh 2,746,886 |
| Year 2 | Ksh 5,000,000 | Ksh 1,106,324 | 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 2 years would run about Ksh 231,556/month — saving Ksh 548,973 in interest. See the Citibank N.A. Kenya version →