Ksh 10,000,000 loan at African Banking Corporation for 5 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 250,196. Total cost: Ksh 15,011,739 (Ksh 5,011,739 interest).
Monthly repayment
Ksh 250,196
At 17.31% · 60 payments
Total repayment
Ksh 15,011,739
1.50× the borrowed amount
Total interest
Ksh 5,011,739
Ksh 598,830 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 1,377,224 | Ksh 1,625,123 | Ksh 8,622,776 |
| Year 2 | Ksh 3,012,700 | Ksh 2,991,996 | Ksh 6,987,300 |
| Year 3 | Ksh 4,954,853 | Ksh 4,052,191 | Ksh 5,045,147 |
| Year 4 | Ksh 7,261,189 | Ksh 4,748,202 | Ksh 2,738,811 |
| Year 5 | Ksh 10,000,000 | Ksh 5,011,739 | 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 5 years would run about Ksh 214,246/month — saving Ksh 2,156,972 in interest. See the Citibank N.A. Kenya version →