Ksh 1,000,000 loan at African Banking Corporation for 2 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 49,591. Total cost: Ksh 1,190,192 (Ksh 190,192 interest).
Monthly repayment
Ksh 49,591
At 17.31% · 24 payments
Total repayment
Ksh 1,190,192
1.19× the borrowed amount
Total interest
Ksh 190,192
Ksh 21,489 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 457,140 | Ksh 137,957 | Ksh 542,860 |
| Year 2 | Ksh 1,000,000 | Ksh 190,192 | 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 2 years would run about Ksh 46,311/month — saving Ksh 78,722 in interest. See the Citibank N.A. Kenya version →