Ksh 2,000,000 loan at African Banking Corporation for 10 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 35,153. Total cost: Ksh 4,218,407 (Ksh 2,218,406 interest).
Monthly repayment
Ksh 35,153
At 17.31% · 120 payments
Total repayment
Ksh 4,218,407
2.11× the borrowed amount
Total interest
Ksh 2,218,406
Ksh 281,446 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 81,940 | Ksh 339,901 | Ksh 1,918,060 |
| Year 2 | Ksh 179,245 | Ksh 664,436 | Ksh 1,820,755 |
| Year 3 | Ksh 294,796 | Ksh 970,726 | Ksh 1,705,204 |
| Year 4 | Ksh 432,015 | Ksh 1,255,348 | Ksh 1,567,985 |
| Year 5 | Ksh 594,964 | Ksh 1,514,239 | Ksh 1,405,036 |
| Year 6 | Ksh 788,469 | Ksh 1,742,575 | Ksh 1,211,531 |
| Year 7 | Ksh 1,018,259 | Ksh 1,934,625 | Ksh 981,741 |
| Year 8 | Ksh 1,291,139 | Ksh 2,083,586 | Ksh 708,861 |
| Year 9 | Ksh 1,615,187 | Ksh 2,181,378 | Ksh 384,813 |
| Year 10 | Ksh 2,000,000 | Ksh 2,218,406 | 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 2,000,000 loan over 10 years would run about Ksh 26,830/month — saving Ksh 998,751 in interest. See the Citibank N.A. Kenya version →