Ksh 1,000,000 loan at African Banking Corporation for 10 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 17,577. Total cost: Ksh 2,109,203 (Ksh 1,109,203 interest).
Monthly repayment
Ksh 17,577
At 17.31% · 120 payments
Total repayment
Ksh 2,109,203
2.11× the borrowed amount
Total interest
Ksh 1,109,203
Ksh 140,723 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 40,970 | Ksh 169,950 | Ksh 959,030 |
| Year 2 | Ksh 89,622 | Ksh 332,218 | Ksh 910,378 |
| Year 3 | Ksh 147,398 | Ksh 485,363 | Ksh 852,602 |
| Year 4 | Ksh 216,007 | Ksh 627,674 | Ksh 783,993 |
| Year 5 | Ksh 297,482 | Ksh 757,120 | Ksh 702,518 |
| Year 6 | Ksh 394,235 | Ksh 871,287 | Ksh 605,765 |
| Year 7 | Ksh 509,130 | Ksh 967,313 | Ksh 490,870 |
| Year 8 | Ksh 645,569 | Ksh 1,041,793 | Ksh 354,431 |
| Year 9 | Ksh 807,594 | Ksh 1,090,689 | Ksh 192,406 |
| Year 10 | Ksh 1,000,000 | Ksh 1,109,203 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 499,376 in interest. See the Citibank N.A. Kenya version →