Ksh 5,000,000 loan at African Banking Corporation for 2 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 247,957. Total cost: Ksh 5,950,962 (Ksh 950,962 interest).
Monthly repayment
Ksh 247,957
At 17.31% · 24 payments
Total repayment
Ksh 5,950,962
1.19× the borrowed amount
Total interest
Ksh 950,962
Ksh 107,447 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 2,285,698 | Ksh 689,783 | Ksh 2,714,302 |
| Year 2 | Ksh 5,000,000 | Ksh 950,962 | 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 2 years would run about Ksh 231,556/month — saving Ksh 393,610 in interest. See the Citibank N.A. Kenya version →