Ksh 1,000,000 loan at Bank of Africa Kenya for 10 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 18,064. Total cost: Ksh 2,167,633 (Ksh 1,167,633 interest).
Monthly repayment
Ksh 18,064
At 18.07% · 120 payments
Total repayment
Ksh 2,167,633
2.17× the borrowed amount
Total interest
Ksh 1,167,633
Ksh 199,153 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 39,205 | Ksh 177,558 | Ksh 960,795 |
| Year 2 | Ksh 86,112 | Ksh 347,415 | Ksh 913,888 |
| Year 3 | Ksh 142,233 | Ksh 508,057 | Ksh 857,767 |
| Year 4 | Ksh 209,379 | Ksh 657,674 | Ksh 790,621 |
| Year 5 | Ksh 289,716 | Ksh 794,101 | Ksh 710,284 |
| Year 6 | Ksh 385,834 | Ksh 914,746 | Ksh 614,166 |
| Year 7 | Ksh 500,833 | Ksh 1,016,510 | Ksh 499,167 |
| Year 8 | Ksh 638,424 | Ksh 1,095,683 | Ksh 361,576 |
| Year 9 | Ksh 803,043 | Ksh 1,147,827 | Ksh 196,957 |
| Year 10 | Ksh 1,000,000 | Ksh 1,167,633 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 557,806 in interest. See the Citibank N.A. Kenya version →