Ksh 1,000,000 loan at Bank of Africa Kenya for 20 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 15,487. Total cost: Ksh 3,716,882 (Ksh 2,716,882 interest).
Monthly repayment
Ksh 15,487
At 18.07% · 240 payments
Total repayment
Ksh 3,716,882
3.72× the borrowed amount
Total interest
Ksh 2,716,882
Ksh 478,287 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 5,592 | Ksh 180,252 | Ksh 994,408 |
| Year 2 | Ksh 12,283 | Ksh 359,405 | Ksh 987,717 |
| Year 3 | Ksh 20,288 | Ksh 537,244 | Ksh 979,712 |
| Year 4 | Ksh 29,866 | Ksh 713,510 | Ksh 970,134 |
| Year 5 | Ksh 41,325 | Ksh 887,895 | Ksh 958,675 |
| Year 6 | Ksh 55,036 | Ksh 1,060,029 | Ksh 944,965 |
| Year 7 | Ksh 71,439 | Ksh 1,229,470 | Ksh 928,561 |
| Year 8 | Ksh 91,065 | Ksh 1,395,688 | Ksh 908,935 |
| Year 9 | Ksh 114,546 | Ksh 1,558,050 | Ksh 885,454 |
| Year 10 | Ksh 142,641 | Ksh 1,715,800 | Ksh 857,360 |
| Year 11 | Ksh 176,253 | Ksh 1,868,032 | Ksh 823,747 |
| Year 12 | Ksh 216,470 | Ksh 2,013,660 | Ksh 783,531 |
| Year 13 | Ksh 264,586 | Ksh 2,151,388 | Ksh 735,414 |
| Year 14 | Ksh 322,154 | Ksh 2,279,663 | Ksh 677,846 |
| Year 15 | Ksh 391,031 | Ksh 2,396,630 | Ksh 608,969 |
| Year 16 | Ksh 473,439 | Ksh 2,500,067 | Ksh 526,561 |
| Year 17 | Ksh 572,035 | Ksh 2,587,315 | Ksh 427,965 |
| Year 18 | Ksh 689,999 | Ksh 2,655,195 | Ksh 310,001 |
| Year 19 | Ksh 831,137 | Ksh 2,699,901 | Ksh 168,863 |
| Year 20 | Ksh 1,000,000 | Ksh 2,716,882 | 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 20 years would run about Ksh 9,890/month — saving Ksh 1,343,298 in interest. See the Citibank N.A. Kenya version →