Ksh 10,000,000 loan at African Banking Corporation for 2 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 495,913. Total cost: Ksh 11,901,923 (Ksh 1,901,923 interest).
Monthly repayment
Ksh 495,913
At 17.31% · 24 payments
Total repayment
Ksh 11,901,923
1.19× the borrowed amount
Total interest
Ksh 1,901,923
Ksh 214,893 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 4,571,396 | Ksh 1,379,566 | Ksh 5,428,604 |
| Year 2 | Ksh 10,000,000 | Ksh 1,901,923 | 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 2 years would run about Ksh 463,113/month — saving Ksh 787,221 in interest. See the Citibank N.A. Kenya version →