Ksh 500,000 loan at African Banking Corporation for 10 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,788. Total cost: Ksh 1,054,602 (Ksh 554,602 interest).
Monthly repayment
Ksh 8,788
At 17.31% · 120 payments
Total repayment
Ksh 1,054,602
2.11× the borrowed amount
Total interest
Ksh 554,602
Ksh 70,361 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 20,485 | Ksh 84,975 | Ksh 479,515 |
| Year 2 | Ksh 44,811 | Ksh 166,109 | Ksh 455,189 |
| Year 3 | Ksh 73,699 | Ksh 242,681 | Ksh 426,301 |
| Year 4 | Ksh 108,004 | Ksh 313,837 | Ksh 391,996 |
| Year 5 | Ksh 148,741 | Ksh 378,560 | Ksh 351,259 |
| Year 6 | Ksh 197,117 | Ksh 435,644 | Ksh 302,883 |
| Year 7 | Ksh 254,565 | Ksh 483,656 | Ksh 245,435 |
| Year 8 | Ksh 322,785 | Ksh 520,897 | Ksh 177,215 |
| Year 9 | Ksh 403,797 | Ksh 545,345 | Ksh 96,203 |
| Year 10 | Ksh 500,000 | Ksh 554,602 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 249,688 in interest. See the Citibank N.A. Kenya version →