Ksh 5,000,000 loan at African Banking Corporation for 5 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 125,098. Total cost: Ksh 7,505,870 (Ksh 2,505,870 interest).
Monthly repayment
Ksh 125,098
At 17.31% · 60 payments
Total repayment
Ksh 7,505,870
1.50× the borrowed amount
Total interest
Ksh 2,505,870
Ksh 299,415 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 688,612 | Ksh 812,562 | Ksh 4,311,388 |
| Year 2 | Ksh 1,506,350 | Ksh 1,495,998 | Ksh 3,493,650 |
| Year 3 | Ksh 2,477,426 | Ksh 2,026,095 | Ksh 2,522,574 |
| Year 4 | Ksh 3,630,595 | Ksh 2,374,101 | Ksh 1,369,405 |
| Year 5 | Ksh 5,000,000 | Ksh 2,505,870 | 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 5 years would run about Ksh 107,123/month — saving Ksh 1,078,486 in interest. See the Citibank N.A. Kenya version →