Ksh 500,000 loan at African Banking Corporation for 2 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,796. Total cost: Ksh 595,096 (Ksh 95,096 interest).
Monthly repayment
Ksh 24,796
At 17.31% · 24 payments
Total repayment
Ksh 595,096
1.19× the borrowed amount
Total interest
Ksh 95,096
Ksh 10,745 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 228,570 | Ksh 68,978 | Ksh 271,430 |
| Year 2 | Ksh 500,000 | Ksh 95,096 | 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 2 years would run about Ksh 23,156/month — saving Ksh 39,361 in interest. See the Citibank N.A. Kenya version →