Ksh 1,000,000 loan at Bank of Africa Kenya for 15 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 16,155. Total cost: Ksh 2,907,828 (Ksh 1,907,828 interest).
Monthly repayment
Ksh 16,155
At 18.07% · 180 payments
Total repayment
Ksh 2,907,828
2.91× the borrowed amount
Total interest
Ksh 1,907,828
Ksh 334,106 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 14,301 | Ksh 179,554 | Ksh 985,699 |
| Year 2 | Ksh 31,412 | Ksh 356,298 | Ksh 968,588 |
| Year 3 | Ksh 51,884 | Ksh 529,682 | Ksh 948,116 |
| Year 4 | Ksh 76,378 | Ksh 699,043 | Ksh 923,622 |
| Year 5 | Ksh 105,683 | Ksh 863,593 | Ksh 894,317 |
| Year 6 | Ksh 140,745 | Ksh 1,022,387 | Ksh 859,255 |
| Year 7 | Ksh 182,694 | Ksh 1,174,292 | Ksh 817,306 |
| Year 8 | Ksh 232,884 | Ksh 1,317,957 | Ksh 767,116 |
| Year 9 | Ksh 292,934 | Ksh 1,451,762 | Ksh 707,066 |
| Year 10 | Ksh 364,780 | Ksh 1,573,771 | Ksh 635,220 |
| Year 11 | Ksh 450,740 | Ksh 1,681,667 | Ksh 549,260 |
| Year 12 | Ksh 553,586 | Ksh 1,772,676 | Ksh 446,414 |
| Year 13 | Ksh 676,636 | Ksh 1,843,482 | Ksh 323,364 |
| Year 14 | Ksh 823,858 | Ksh 1,890,115 | Ksh 176,142 |
| Year 15 | Ksh 1,000,000 | Ksh 1,907,828 | 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 15 years would run about Ksh 10,967/month — saving Ksh 933,704 in interest. See the Citibank N.A. Kenya version →