Ksh 1,000,000 loan at African Banking Corporation for 15 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 15,610. Total cost: Ksh 2,809,850 (Ksh 1,809,850 interest).
Monthly repayment
Ksh 15,610
At 17.31% · 180 payments
Total repayment
Ksh 2,809,850
2.81× the borrowed amount
Total interest
Ksh 1,809,850
Ksh 236,128 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 15,408 | Ksh 171,915 | Ksh 984,592 |
| Year 2 | Ksh 33,705 | Ksh 340,942 | Ksh 966,295 |
| Year 3 | Ksh 55,433 | Ksh 506,537 | Ksh 944,567 |
| Year 4 | Ksh 81,235 | Ksh 668,058 | Ksh 918,765 |
| Year 5 | Ksh 111,876 | Ksh 824,741 | Ksh 888,124 |
| Year 6 | Ksh 148,263 | Ksh 975,678 | Ksh 851,737 |
| Year 7 | Ksh 191,472 | Ksh 1,119,791 | Ksh 808,528 |
| Year 8 | Ksh 242,784 | Ksh 1,255,803 | Ksh 757,216 |
| Year 9 | Ksh 303,717 | Ksh 1,382,193 | Ksh 696,283 |
| Year 10 | Ksh 376,077 | Ksh 1,497,156 | Ksh 623,923 |
| Year 11 | Ksh 462,005 | Ksh 1,598,552 | Ksh 537,995 |
| Year 12 | Ksh 564,046 | Ksh 1,683,834 | Ksh 435,954 |
| Year 13 | Ksh 685,222 | Ksh 1,749,982 | Ksh 314,778 |
| Year 14 | Ksh 829,119 | Ksh 1,793,408 | Ksh 170,881 |
| Year 15 | Ksh 1,000,000 | Ksh 1,809,850 | 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 15 years would run about Ksh 10,967/month — saving Ksh 835,726 in interest. See the Citibank N.A. Kenya version →