Ksh 10,000,000 loan at African Banking Corporation for 10 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 175,767. Total cost: Ksh 21,092,032 (Ksh 11,092,032 interest).
Monthly repayment
Ksh 175,767
At 17.31% · 120 payments
Total repayment
Ksh 21,092,032
2.11× the borrowed amount
Total interest
Ksh 11,092,032
Ksh 1,407,228 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 409,700 | Ksh 1,699,504 | Ksh 9,590,300 |
| Year 2 | Ksh 896,224 | Ksh 3,322,182 | Ksh 9,103,776 |
| Year 3 | Ksh 1,473,980 | Ksh 4,853,630 | Ksh 8,526,020 |
| Year 4 | Ksh 2,160,074 | Ksh 6,276,739 | Ksh 7,839,926 |
| Year 5 | Ksh 2,974,821 | Ksh 7,571,195 | Ksh 7,025,179 |
| Year 6 | Ksh 3,942,346 | Ksh 8,712,874 | Ksh 6,057,654 |
| Year 7 | Ksh 5,091,296 | Ksh 9,673,126 | Ksh 4,908,704 |
| Year 8 | Ksh 6,455,694 | Ksh 10,417,932 | Ksh 3,544,306 |
| Year 9 | Ksh 8,075,936 | Ksh 10,906,892 | Ksh 1,924,064 |
| Year 10 | Ksh 10,000,000 | Ksh 11,092,032 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 4,993,757 in interest. See the Citibank N.A. Kenya version →