Ksh 2,000,000 loan at Bank of Africa Kenya for 1 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 2,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 183,427. Total cost: Ksh 2,201,119 (Ksh 201,119 interest).
Monthly repayment
Ksh 183,427
At 18.07% · 12 payments
Total repayment
Ksh 2,201,119
1.10× the borrowed amount
Total interest
Ksh 201,119
Ksh 29,934 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 2,000,000 | Ksh 201,119 | 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 2,000,000 loan over 1 years would run about Ksh 176,167/month — saving Ksh 87,118 in interest. See the Citibank N.A. Kenya version →