Ksh 10,000,000 loan at Bank of Africa Kenya for 3 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 361,875. Total cost: Ksh 13,027,508 (Ksh 3,027,507 interest).
Monthly repayment
Ksh 361,875
At 18.07% · 36 payments
Total repayment
Ksh 13,027,508
1.30× the borrowed amount
Total interest
Ksh 3,027,507
Ksh 470,281 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 2,756,401 | Ksh 1,586,101 | Ksh 7,243,599 |
| Year 2 | Ksh 6,054,278 | Ksh 2,630,727 | Ksh 3,945,722 |
| Year 3 | Ksh 10,000,000 | Ksh 3,027,507 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,350,379 in interest. See the Citibank N.A. Kenya version →