Ksh 5,000,000 loan at Access Bank Kenya for 5 years.
At Access Bank Kenya's current lending rate of 19.98%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 132,414. Total cost: Ksh 7,944,827 (Ksh 2,944,827 interest).
Monthly repayment
Ksh 132,414
At 19.98% · 60 payments
Total repayment
Ksh 7,944,827
1.59× the borrowed amount
Total interest
Ksh 2,944,827
Ksh 738,373 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 647,105 | Ksh 941,860 | Ksh 4,352,895 |
| Year 2 | Ksh 1,436,025 | Ksh 1,741,906 | Ksh 3,563,975 |
| Year 3 | Ksh 2,397,836 | Ksh 2,369,060 | Ksh 2,602,164 |
| Year 4 | Ksh 3,570,430 | Ksh 2,785,431 | Ksh 1,429,570 |
| Year 5 | Ksh 5,000,000 | Ksh 2,944,827 | 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 5 years would run about Ksh 107,123/month — saving Ksh 1,517,443 in interest. See the Citibank N.A. Kenya version →