Ksh 5,000,000 loan at African Banking Corporation for 1 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 5,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 456,760. Total cost: Ksh 5,481,116 (Ksh 481,116 interest).
Monthly repayment
Ksh 456,760
At 17.31% · 12 payments
Total repayment
Ksh 5,481,116
1.10× the borrowed amount
Total interest
Ksh 481,116
Ksh 53,152 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 5,000,000 | Ksh 481,116 | 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 5,000,000 loan over 1 years would run about Ksh 440,417/month — saving Ksh 196,111 in interest. See the Citibank N.A. Kenya version →