Ksh 10,000,000 loan at Bank of Africa Kenya for 2 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 499,579. Total cost: Ksh 11,989,903 (Ksh 1,989,903 interest).
Monthly repayment
Ksh 499,579
At 18.07% · 24 payments
Total repayment
Ksh 11,989,903
1.20× the borrowed amount
Total interest
Ksh 1,989,903
Ksh 302,873 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 4,552,816 | Ksh 1,442,136 | Ksh 5,447,184 |
| Year 2 | Ksh 10,000,000 | Ksh 1,989,903 | 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 2 years would run about Ksh 463,113/month — saving Ksh 875,201 in interest. See the Citibank N.A. Kenya version →