Ksh 500,000 loan at African Banking Corporation for 15 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 7,805. Total cost: Ksh 1,404,925 (Ksh 904,925 interest).
Monthly repayment
Ksh 7,805
At 17.31% · 180 payments
Total repayment
Ksh 1,404,925
2.81× the borrowed amount
Total interest
Ksh 904,925
Ksh 118,064 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 7,704 | Ksh 85,958 | Ksh 492,296 |
| Year 2 | Ksh 16,852 | Ksh 170,471 | Ksh 483,148 |
| Year 3 | Ksh 27,717 | Ksh 253,269 | Ksh 472,284 |
| Year 4 | Ksh 40,618 | Ksh 334,029 | Ksh 459,382 |
| Year 5 | Ksh 55,938 | Ksh 412,370 | Ksh 444,062 |
| Year 6 | Ksh 74,131 | Ksh 487,839 | Ksh 425,869 |
| Year 7 | Ksh 95,736 | Ksh 559,896 | Ksh 404,264 |
| Year 8 | Ksh 121,392 | Ksh 627,902 | Ksh 378,608 |
| Year 9 | Ksh 151,859 | Ksh 691,096 | Ksh 348,141 |
| Year 10 | Ksh 188,039 | Ksh 748,578 | Ksh 311,961 |
| Year 11 | Ksh 231,003 | Ksh 799,276 | Ksh 268,997 |
| Year 12 | Ksh 282,023 | Ksh 841,917 | Ksh 217,977 |
| Year 13 | Ksh 342,611 | Ksh 874,991 | Ksh 157,389 |
| Year 14 | Ksh 414,560 | Ksh 896,704 | Ksh 85,440 |
| Year 15 | Ksh 500,000 | Ksh 904,925 | 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 15 years would run about Ksh 5,484/month — saving Ksh 417,863 in interest. See the Citibank N.A. Kenya version →