Ksh 5,000,000 loan at Access Bank Kenya for 3 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 185,767. Total cost: Ksh 6,687,611 (Ksh 1,687,611 interest).
Monthly repayment
Ksh 185,767
At 19.98% · 36 payments
Total repayment
Ksh 6,687,611
1.34× the borrowed amount
Total interest
Ksh 1,687,611
Ksh 408,997 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 1,349,353 | Ksh 879,851 | Ksh 3,650,647 |
| Year 2 | Ksh 2,994,417 | Ksh 1,463,990 | Ksh 2,005,583 |
| Year 3 | Ksh 5,000,000 | Ksh 1,687,611 | 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 3 years would run about Ksh 162,182/month — saving Ksh 849,046 in interest. See the Citibank N.A. Kenya version →