Ksh 1,000,000 loan at African Banking Corporation for 5 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 25,020. Total cost: Ksh 1,501,174 (Ksh 501,174 interest).
Monthly repayment
Ksh 25,020
At 17.31% · 60 payments
Total repayment
Ksh 1,501,174
1.50× the borrowed amount
Total interest
Ksh 501,174
Ksh 59,883 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 137,722 | Ksh 162,512 | Ksh 862,278 |
| Year 2 | Ksh 301,270 | Ksh 299,200 | Ksh 698,730 |
| Year 3 | Ksh 495,485 | Ksh 405,219 | Ksh 504,515 |
| Year 4 | Ksh 726,119 | Ksh 474,820 | Ksh 273,881 |
| Year 5 | Ksh 1,000,000 | Ksh 501,174 | 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 5 years would run about Ksh 21,425/month — saving Ksh 215,697 in interest. See the Citibank N.A. Kenya version →