Ksh 10,000,000 loan at Bank of Africa Kenya for 15 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 161,546. Total cost: Ksh 29,078,280 (Ksh 19,078,279 interest).
Monthly repayment
Ksh 161,546
At 18.07% · 180 payments
Total repayment
Ksh 29,078,280
2.91× the borrowed amount
Total interest
Ksh 19,078,279
Ksh 3,341,059 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 143,013 | Ksh 1,795,539 | Ksh 9,856,987 |
| Year 2 | Ksh 314,120 | Ksh 3,562,984 | Ksh 9,685,880 |
| Year 3 | Ksh 518,840 | Ksh 5,296,816 | Ksh 9,481,160 |
| Year 4 | Ksh 763,775 | Ksh 6,990,433 | Ksh 9,236,225 |
| Year 5 | Ksh 1,056,827 | Ksh 8,635,933 | Ksh 8,943,173 |
| Year 6 | Ksh 1,407,446 | Ksh 10,223,866 | Ksh 8,592,554 |
| Year 7 | Ksh 1,826,942 | Ksh 11,742,922 | Ksh 8,173,058 |
| Year 8 | Ksh 2,328,845 | Ksh 13,179,571 | Ksh 7,671,155 |
| Year 9 | Ksh 2,929,343 | Ksh 14,517,625 | Ksh 7,070,657 |
| Year 10 | Ksh 3,647,805 | Ksh 15,737,715 | Ksh 6,352,195 |
| Year 11 | Ksh 4,507,404 | Ksh 16,816,668 | Ksh 5,492,596 |
| Year 12 | Ksh 5,535,865 | Ksh 17,726,759 | Ksh 4,464,135 |
| Year 13 | Ksh 6,766,359 | Ksh 18,434,816 | Ksh 3,233,641 |
| Year 14 | Ksh 8,238,576 | Ksh 18,901,151 | Ksh 1,761,424 |
| Year 15 | Ksh 10,000,000 | Ksh 19,078,279 | 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 15 years would run about Ksh 109,674/month — saving Ksh 9,337,040 in interest. See the Citibank N.A. Kenya version →