Ksh 1,000,000 loan at Bank of Africa Kenya for 5 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 25,432. Total cost: Ksh 1,525,891 (Ksh 525,891 interest).
Monthly repayment
Ksh 25,432
At 18.07% · 60 payments
Total repayment
Ksh 1,525,891
1.53× the borrowed amount
Total interest
Ksh 525,891
Ksh 84,600 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 135,323 | Ksh 169,855 | Ksh 864,677 |
| Year 2 | Ksh 297,229 | Ksh 313,127 | Ksh 702,771 |
| Year 3 | Ksh 490,941 | Ksh 424,594 | Ksh 509,059 |
| Year 4 | Ksh 722,706 | Ksh 498,007 | Ksh 277,294 |
| Year 5 | Ksh 1,000,000 | Ksh 525,891 | 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 5 years would run about Ksh 21,425/month — saving Ksh 240,415 in interest. See the Citibank N.A. Kenya version →