Ksh 10,000,000 loan at African Banking Corporation for 3 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 358,072. Total cost: Ksh 12,890,592 (Ksh 2,890,592 interest).
Monthly repayment
Ksh 358,072
At 17.31% · 36 payments
Total repayment
Ksh 12,890,592
1.29× the borrowed amount
Total interest
Ksh 2,890,592
Ksh 333,365 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 2,779,547 | Ksh 1,517,317 | Ksh 7,220,453 |
| Year 2 | Ksh 6,080,302 | Ksh 2,513,426 | Ksh 3,919,698 |
| Year 3 | Ksh 10,000,000 | Ksh 2,890,592 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,213,463 in interest. See the Citibank N.A. Kenya version →