Ksh 10,000,000 loan at African Banking Corporation for 15 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 156,103. Total cost: Ksh 28,098,504 (Ksh 18,098,503 interest).
Monthly repayment
Ksh 156,103
At 17.31% · 180 payments
Total repayment
Ksh 28,098,504
2.81× the borrowed amount
Total interest
Ksh 18,098,503
Ksh 2,361,284 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 154,079 | Ksh 1,719,155 | Ksh 9,845,921 |
| Year 2 | Ksh 337,049 | Ksh 3,409,418 | Ksh 9,662,951 |
| Year 3 | Ksh 554,330 | Ksh 5,065,371 | Ksh 9,445,670 |
| Year 4 | Ksh 812,354 | Ksh 6,680,580 | Ksh 9,187,646 |
| Year 5 | Ksh 1,118,762 | Ksh 8,247,406 | Ksh 8,881,238 |
| Year 6 | Ksh 1,482,626 | Ksh 9,756,775 | Ksh 8,517,374 |
| Year 7 | Ksh 1,914,720 | Ksh 11,197,915 | Ksh 8,085,280 |
| Year 8 | Ksh 2,427,839 | Ksh 12,558,030 | Ksh 7,572,161 |
| Year 9 | Ksh 3,037,175 | Ksh 13,821,927 | Ksh 6,962,825 |
| Year 10 | Ksh 3,760,771 | Ksh 14,971,565 | Ksh 6,239,229 |
| Year 11 | Ksh 4,620,053 | Ksh 15,985,516 | Ksh 5,379,947 |
| Year 12 | Ksh 5,640,464 | Ksh 16,838,339 | Ksh 4,359,536 |
| Year 13 | Ksh 6,852,217 | Ksh 17,499,819 | Ksh 3,147,783 |
| Year 14 | Ksh 8,291,193 | Ksh 17,934,077 | Ksh 1,708,807 |
| Year 15 | Ksh 10,000,000 | Ksh 18,098,503 | 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 15 years would run about Ksh 109,674/month — saving Ksh 8,357,264 in interest. See the Citibank N.A. Kenya version →