Ksh 2,000,000 loan at African Banking Corporation for 15 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 31,221. Total cost: Ksh 5,619,701 (Ksh 3,619,701 interest).
Monthly repayment
Ksh 31,221
At 17.31% · 180 payments
Total repayment
Ksh 5,619,701
2.81× the borrowed amount
Total interest
Ksh 3,619,701
Ksh 472,257 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 30,816 | Ksh 343,831 | Ksh 1,969,184 |
| Year 2 | Ksh 67,410 | Ksh 681,884 | Ksh 1,932,590 |
| Year 3 | Ksh 110,866 | Ksh 1,013,074 | Ksh 1,889,134 |
| Year 4 | Ksh 162,471 | Ksh 1,336,116 | Ksh 1,837,529 |
| Year 5 | Ksh 223,752 | Ksh 1,649,481 | Ksh 1,776,248 |
| Year 6 | Ksh 296,525 | Ksh 1,951,355 | Ksh 1,703,475 |
| Year 7 | Ksh 382,944 | Ksh 2,239,583 | Ksh 1,617,056 |
| Year 8 | Ksh 485,568 | Ksh 2,511,606 | Ksh 1,514,432 |
| Year 9 | Ksh 607,435 | Ksh 2,764,385 | Ksh 1,392,565 |
| Year 10 | Ksh 752,154 | Ksh 2,994,313 | Ksh 1,247,846 |
| Year 11 | Ksh 924,011 | Ksh 3,197,103 | Ksh 1,075,989 |
| Year 12 | Ksh 1,128,093 | Ksh 3,367,668 | Ksh 871,907 |
| Year 13 | Ksh 1,370,443 | Ksh 3,499,964 | Ksh 629,557 |
| Year 14 | Ksh 1,658,239 | Ksh 3,586,815 | Ksh 341,761 |
| Year 15 | Ksh 2,000,000 | Ksh 3,619,701 | 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 15 years would run about Ksh 21,935/month — saving Ksh 1,671,453 in interest. See the Citibank N.A. Kenya version →