Ksh 1,000,000 loan at Bank of Africa Kenya for 3 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 36,188. Total cost: Ksh 1,302,751 (Ksh 302,751 interest).
Monthly repayment
Ksh 36,188
At 18.07% · 36 payments
Total repayment
Ksh 1,302,751
1.30× the borrowed amount
Total interest
Ksh 302,751
Ksh 47,028 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 275,640 | Ksh 158,610 | Ksh 724,360 |
| Year 2 | Ksh 605,428 | Ksh 263,073 | Ksh 394,572 |
| Year 3 | Ksh 1,000,000 | Ksh 302,751 | 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 3 years would run about Ksh 32,436/month — saving Ksh 135,038 in interest. See the Citibank N.A. Kenya version →