Ksh 10,000,000 loan at Bank of Africa Kenya for 5 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 254,315. Total cost: Ksh 15,258,914 (Ksh 5,258,914 interest).
Monthly repayment
Ksh 254,315
At 18.07% · 60 payments
Total repayment
Ksh 15,258,914
1.53× the borrowed amount
Total interest
Ksh 5,258,914
Ksh 846,005 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 1,353,231 | Ksh 1,698,552 | Ksh 8,646,769 |
| Year 2 | Ksh 2,972,295 | Ksh 3,131,271 | Ksh 7,027,705 |
| Year 3 | Ksh 4,909,412 | Ksh 4,245,936 | Ksh 5,090,588 |
| Year 4 | Ksh 7,227,063 | Ksh 4,980,068 | Ksh 2,772,937 |
| Year 5 | Ksh 10,000,000 | Ksh 5,258,914 | 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 5 years would run about Ksh 214,246/month — saving Ksh 2,404,146 in interest. See the Citibank N.A. Kenya version →