Ksh 500,000 loan at African Banking Corporation for 5 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 12,510. Total cost: Ksh 750,587 (Ksh 250,587 interest).
Monthly repayment
Ksh 12,510
At 17.31% · 60 payments
Total repayment
Ksh 750,587
1.50× the borrowed amount
Total interest
Ksh 250,587
Ksh 29,942 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 68,861 | Ksh 81,256 | Ksh 431,139 |
| Year 2 | Ksh 150,635 | Ksh 149,600 | Ksh 349,365 |
| Year 3 | Ksh 247,743 | Ksh 202,610 | Ksh 252,257 |
| Year 4 | Ksh 363,059 | Ksh 237,410 | Ksh 136,941 |
| Year 5 | Ksh 500,000 | Ksh 250,587 | 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 5 years would run about Ksh 10,712/month — saving Ksh 107,849 in interest. See the Citibank N.A. Kenya version →