Ksh 10,000,000 loan at Bank of Africa Kenya for 10 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 180,636. Total cost: Ksh 21,676,332 (Ksh 11,676,332 interest).
Monthly repayment
Ksh 180,636
At 18.07% · 120 payments
Total repayment
Ksh 21,676,332
2.17× the borrowed amount
Total interest
Ksh 11,676,332
Ksh 1,991,528 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 392,052 | Ksh 1,775,581 | Ksh 9,607,948 |
| Year 2 | Ksh 861,121 | Ksh 3,474,146 | Ksh 9,138,879 |
| Year 3 | Ksh 1,422,334 | Ksh 5,080,565 | Ksh 8,577,666 |
| Year 4 | Ksh 2,093,794 | Ksh 6,576,739 | Ksh 7,906,206 |
| Year 5 | Ksh 2,897,158 | Ksh 7,941,008 | Ksh 7,102,842 |
| Year 6 | Ksh 3,858,336 | Ksh 9,147,463 | Ksh 6,141,664 |
| Year 7 | Ksh 5,008,332 | Ksh 10,165,100 | Ksh 4,991,668 |
| Year 8 | Ksh 6,384,236 | Ksh 10,956,830 | Ksh 3,615,764 |
| Year 9 | Ksh 8,030,427 | Ksh 11,478,272 | Ksh 1,969,573 |
| Year 10 | Ksh 10,000,000 | Ksh 11,676,332 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 5,578,057 in interest. See the Citibank N.A. Kenya version →