Ksh 5,000,000 loan at African Banking Corporation for 15 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 78,051. Total cost: Ksh 14,049,252 (Ksh 9,049,252 interest).
Monthly repayment
Ksh 78,051
At 17.31% · 180 payments
Total repayment
Ksh 14,049,252
2.81× the borrowed amount
Total interest
Ksh 9,049,252
Ksh 1,180,642 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 77,039 | Ksh 859,577 | Ksh 4,922,961 |
| Year 2 | Ksh 168,525 | Ksh 1,704,709 | Ksh 4,831,475 |
| Year 3 | Ksh 277,165 | Ksh 2,532,685 | Ksh 4,722,835 |
| Year 4 | Ksh 406,177 | Ksh 3,340,290 | Ksh 4,593,823 |
| Year 5 | Ksh 559,381 | Ksh 4,123,703 | Ksh 4,440,619 |
| Year 6 | Ksh 741,313 | Ksh 4,878,388 | Ksh 4,258,687 |
| Year 7 | Ksh 957,360 | Ksh 5,598,957 | Ksh 4,042,640 |
| Year 8 | Ksh 1,213,919 | Ksh 6,279,015 | Ksh 3,786,081 |
| Year 9 | Ksh 1,518,587 | Ksh 6,910,964 | Ksh 3,481,413 |
| Year 10 | Ksh 1,880,386 | Ksh 7,485,782 | Ksh 3,119,614 |
| Year 11 | Ksh 2,310,026 | Ksh 7,992,758 | Ksh 2,689,974 |
| Year 12 | Ksh 2,820,232 | Ksh 8,419,170 | Ksh 2,179,768 |
| Year 13 | Ksh 3,426,109 | Ksh 8,749,910 | Ksh 1,573,891 |
| Year 14 | Ksh 4,145,597 | Ksh 8,967,038 | Ksh 854,403 |
| Year 15 | Ksh 5,000,000 | Ksh 9,049,252 | 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 15 years would run about Ksh 54,837/month — saving Ksh 4,178,632 in interest. See the Citibank N.A. Kenya version →