Ksh 5,000,000 loan at African Banking Corporation for 3 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 179,036. Total cost: Ksh 6,445,296 (Ksh 1,445,296 interest).
Monthly repayment
Ksh 179,036
At 17.31% · 36 payments
Total repayment
Ksh 6,445,296
1.29× the borrowed amount
Total interest
Ksh 1,445,296
Ksh 166,683 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 1,389,773 | Ksh 758,659 | Ksh 3,610,227 |
| Year 2 | Ksh 3,040,151 | Ksh 1,256,713 | Ksh 1,959,849 |
| Year 3 | Ksh 5,000,000 | Ksh 1,445,296 | 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 3 years would run about Ksh 162,182/month — saving Ksh 606,732 in interest. See the Citibank N.A. Kenya version →