Ksh 1,000,000 loan at Bank of Africa Kenya for 2 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 49,958. Total cost: Ksh 1,198,990 (Ksh 198,990 interest).
Monthly repayment
Ksh 49,958
At 18.07% · 24 payments
Total repayment
Ksh 1,198,990
1.20× the borrowed amount
Total interest
Ksh 198,990
Ksh 30,287 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 455,282 | Ksh 144,214 | Ksh 544,718 |
| Year 2 | Ksh 1,000,000 | Ksh 198,990 | 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 2 years would run about Ksh 46,311/month — saving Ksh 87,520 in interest. See the Citibank N.A. Kenya version →