Ksh 500,000 loan at African Banking Corporation for 3 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,904. Total cost: Ksh 644,530 (Ksh 144,530 interest).
Monthly repayment
Ksh 17,904
At 17.31% · 36 payments
Total repayment
Ksh 644,530
1.29× the borrowed amount
Total interest
Ksh 144,530
Ksh 16,668 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 138,977 | Ksh 75,866 | Ksh 361,023 |
| Year 2 | Ksh 304,015 | Ksh 125,671 | Ksh 195,985 |
| Year 3 | Ksh 500,000 | Ksh 144,530 | 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 3 years would run about Ksh 16,218/month — saving Ksh 60,673 in interest. See the Citibank N.A. Kenya version →