Ksh 1,000,000 loan at African Banking Corporation for 25 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 14,624. Total cost: Ksh 4,387,233 (Ksh 3,387,232 interest).
Monthly repayment
Ksh 14,624
At 17.31% · 300 payments
Total repayment
Ksh 4,387,233
4.39× the borrowed amount
Total interest
Ksh 3,387,232
Ksh 442,043 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 2,588 | Ksh 172,901 | Ksh 997,412 |
| Year 2 | Ksh 5,662 | Ksh 345,317 | Ksh 994,338 |
| Year 3 | Ksh 9,312 | Ksh 517,156 | Ksh 990,688 |
| Year 4 | Ksh 13,646 | Ksh 688,311 | Ksh 986,354 |
| Year 5 | Ksh 18,793 | Ksh 858,653 | Ksh 981,207 |
| Year 6 | Ksh 24,906 | Ksh 1,028,030 | Ksh 975,094 |
| Year 7 | Ksh 32,164 | Ksh 1,196,261 | Ksh 967,836 |
| Year 8 | Ksh 40,784 | Ksh 1,363,131 | Ksh 959,216 |
| Year 9 | Ksh 51,019 | Ksh 1,528,384 | Ksh 948,981 |
| Year 10 | Ksh 63,175 | Ksh 1,691,718 | Ksh 936,825 |
| Year 11 | Ksh 77,609 | Ksh 1,852,773 | Ksh 922,391 |
| Year 12 | Ksh 94,750 | Ksh 2,011,121 | Ksh 905,250 |
| Year 13 | Ksh 115,106 | Ksh 2,166,255 | Ksh 884,894 |
| Year 14 | Ksh 139,278 | Ksh 2,317,572 | Ksh 860,722 |
| Year 15 | Ksh 167,983 | Ksh 2,464,356 | Ksh 832,017 |
| Year 16 | Ksh 202,071 | Ksh 2,605,758 | Ksh 797,929 |
| Year 17 | Ksh 242,550 | Ksh 2,740,767 | Ksh 757,450 |
| Year 18 | Ksh 290,621 | Ksh 2,868,186 | Ksh 709,379 |
| Year 19 | Ksh 347,705 | Ksh 2,986,592 | Ksh 652,295 |
| Year 20 | Ksh 415,493 | Ksh 3,094,292 | Ksh 584,507 |
| Year 21 | Ksh 495,993 | Ksh 3,189,282 | Ksh 504,007 |
| Year 22 | Ksh 591,588 | Ksh 3,269,177 | Ksh 408,412 |
| Year 23 | Ksh 705,108 | Ksh 3,331,146 | Ksh 294,892 |
| Year 24 | Ksh 839,915 | Ksh 3,371,828 | Ksh 160,085 |
| Year 25 | Ksh 1,000,000 | Ksh 3,387,232 | 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 25 years would run about Ksh 9,342/month — saving Ksh 1,584,631 in interest. See the Citibank N.A. Kenya version →