Ksh 2,000,000 loan at Bank of Africa Kenya for 10 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 36,127. Total cost: Ksh 4,335,266 (Ksh 2,335,266 interest).
Monthly repayment
Ksh 36,127
At 18.07% · 120 payments
Total repayment
Ksh 4,335,266
2.17× the borrowed amount
Total interest
Ksh 2,335,266
Ksh 398,306 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 78,410 | Ksh 355,116 | Ksh 1,921,590 |
| Year 2 | Ksh 172,224 | Ksh 694,829 | Ksh 1,827,776 |
| Year 3 | Ksh 284,467 | Ksh 1,016,113 | Ksh 1,715,533 |
| Year 4 | Ksh 418,759 | Ksh 1,315,348 | Ksh 1,581,241 |
| Year 5 | Ksh 579,432 | Ksh 1,588,202 | Ksh 1,420,568 |
| Year 6 | Ksh 771,667 | Ksh 1,829,493 | Ksh 1,228,333 |
| Year 7 | Ksh 1,001,666 | Ksh 2,033,020 | Ksh 998,334 |
| Year 8 | Ksh 1,276,847 | Ksh 2,191,366 | Ksh 723,153 |
| Year 9 | Ksh 1,606,085 | Ksh 2,295,654 | Ksh 393,915 |
| Year 10 | Ksh 2,000,000 | Ksh 2,335,266 | 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 10 years would run about Ksh 26,830/month — saving Ksh 1,115,611 in interest. See the Citibank N.A. Kenya version →