Ksh 2,000,000 loan at African Banking Corporation for 5 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 50,039. Total cost: Ksh 3,002,348 (Ksh 1,002,348 interest).
Monthly repayment
Ksh 50,039
At 17.31% · 60 payments
Total repayment
Ksh 3,002,348
1.50× the borrowed amount
Total interest
Ksh 1,002,348
Ksh 119,766 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 275,445 | Ksh 325,025 | Ksh 1,724,555 |
| Year 2 | Ksh 602,540 | Ksh 598,399 | Ksh 1,397,460 |
| Year 3 | Ksh 990,971 | Ksh 810,438 | Ksh 1,009,029 |
| Year 4 | Ksh 1,452,238 | Ksh 949,640 | Ksh 547,762 |
| Year 5 | Ksh 2,000,000 | Ksh 1,002,348 | 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 5 years would run about Ksh 42,849/month — saving Ksh 431,394 in interest. See the Citibank N.A. Kenya version →