Ksh 1,000,000 loan at Bank of Africa Kenya for 25 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 15,230. Total cost: Ksh 4,569,087 (Ksh 3,569,086 interest).
Monthly repayment
Ksh 15,230
At 18.07% · 300 payments
Total repayment
Ksh 4,569,087
4.57× the borrowed amount
Total interest
Ksh 3,569,086
Ksh 623,897 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 2,243 | Ksh 180,520 | Ksh 997,757 |
| Year 2 | Ksh 4,927 | Ksh 360,600 | Ksh 995,073 |
| Year 3 | Ksh 8,138 | Ksh 540,152 | Ksh 991,862 |
| Year 4 | Ksh 11,980 | Ksh 719,074 | Ksh 988,020 |
| Year 5 | Ksh 16,577 | Ksh 897,241 | Ksh 983,423 |
| Year 6 | Ksh 22,076 | Ksh 1,074,504 | Ksh 977,924 |
| Year 7 | Ksh 28,656 | Ksh 1,250,688 | Ksh 971,344 |
| Year 8 | Ksh 36,529 | Ksh 1,425,579 | Ksh 963,471 |
| Year 9 | Ksh 45,948 | Ksh 1,598,923 | Ksh 954,052 |
| Year 10 | Ksh 57,217 | Ksh 1,770,418 | Ksh 942,783 |
| Year 11 | Ksh 70,700 | Ksh 1,939,698 | Ksh 929,300 |
| Year 12 | Ksh 86,831 | Ksh 2,106,330 | Ksh 913,169 |
| Year 13 | Ksh 106,132 | Ksh 2,269,792 | Ksh 893,868 |
| Year 14 | Ksh 129,224 | Ksh 2,429,464 | Ksh 870,776 |
| Year 15 | Ksh 156,853 | Ksh 2,584,599 | Ksh 843,147 |
| Year 16 | Ksh 189,908 | Ksh 2,734,306 | Ksh 810,092 |
| Year 17 | Ksh 229,458 | Ksh 2,877,520 | Ksh 770,542 |
| Year 18 | Ksh 276,776 | Ksh 3,012,965 | Ksh 723,224 |
| Year 19 | Ksh 333,390 | Ksh 3,139,115 | Ksh 666,610 |
| Year 20 | Ksh 401,126 | Ksh 3,254,143 | Ksh 598,874 |
| Year 21 | Ksh 482,167 | Ksh 3,355,865 | Ksh 517,833 |
| Year 22 | Ksh 579,129 | Ksh 3,441,667 | Ksh 420,871 |
| Year 23 | Ksh 695,138 | Ksh 3,508,421 | Ksh 304,862 |
| Year 24 | Ksh 833,936 | Ksh 3,552,386 | Ksh 166,064 |
| Year 25 | Ksh 1,000,000 | Ksh 3,569,086 | 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 25 years would run about Ksh 9,342/month — saving Ksh 1,766,484 in interest. See the Citibank N.A. Kenya version →