Ksh 5,000,000 loan at African Banking Corporation for 10 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 87,883. Total cost: Ksh 10,546,016 (Ksh 5,546,016 interest).
Monthly repayment
Ksh 87,883
At 17.31% · 120 payments
Total repayment
Ksh 10,546,016
2.11× the borrowed amount
Total interest
Ksh 5,546,016
Ksh 703,614 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 204,850 | Ksh 849,752 | Ksh 4,795,150 |
| Year 2 | Ksh 448,112 | Ksh 1,661,091 | Ksh 4,551,888 |
| Year 3 | Ksh 736,990 | Ksh 2,426,815 | Ksh 4,263,010 |
| Year 4 | Ksh 1,080,037 | Ksh 3,138,370 | Ksh 3,919,963 |
| Year 5 | Ksh 1,487,410 | Ksh 3,785,598 | Ksh 3,512,590 |
| Year 6 | Ksh 1,971,173 | Ksh 4,356,437 | Ksh 3,028,827 |
| Year 7 | Ksh 2,545,648 | Ksh 4,836,563 | Ksh 2,454,352 |
| Year 8 | Ksh 3,227,847 | Ksh 5,208,966 | Ksh 1,772,153 |
| Year 9 | Ksh 4,037,968 | Ksh 5,453,446 | Ksh 962,032 |
| Year 10 | Ksh 5,000,000 | Ksh 5,546,016 | 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 10 years would run about Ksh 67,076/month — saving Ksh 2,496,879 in interest. See the Citibank N.A. Kenya version →