Ksh 2,000,000 loan at Bank of Africa Kenya for 15 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 32,309. Total cost: Ksh 5,815,656 (Ksh 3,815,656 interest).
Monthly repayment
Ksh 32,309
At 18.07% · 180 payments
Total repayment
Ksh 5,815,656
2.91× the borrowed amount
Total interest
Ksh 3,815,656
Ksh 668,212 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 28,603 | Ksh 359,108 | Ksh 1,971,397 |
| Year 2 | Ksh 62,824 | Ksh 712,597 | Ksh 1,937,176 |
| Year 3 | Ksh 103,768 | Ksh 1,059,363 | Ksh 1,896,232 |
| Year 4 | Ksh 152,755 | Ksh 1,398,087 | Ksh 1,847,245 |
| Year 5 | Ksh 211,365 | Ksh 1,727,187 | Ksh 1,788,635 |
| Year 6 | Ksh 281,489 | Ksh 2,044,773 | Ksh 1,718,511 |
| Year 7 | Ksh 365,388 | Ksh 2,348,584 | Ksh 1,634,612 |
| Year 8 | Ksh 465,769 | Ksh 2,635,914 | Ksh 1,534,231 |
| Year 9 | Ksh 585,869 | Ksh 2,903,525 | Ksh 1,414,131 |
| Year 10 | Ksh 729,561 | Ksh 3,147,543 | Ksh 1,270,439 |
| Year 11 | Ksh 901,481 | Ksh 3,363,334 | Ksh 1,098,519 |
| Year 12 | Ksh 1,107,173 | Ksh 3,545,352 | Ksh 892,827 |
| Year 13 | Ksh 1,353,272 | Ksh 3,686,963 | Ksh 646,728 |
| Year 14 | Ksh 1,647,715 | Ksh 3,780,230 | Ksh 352,285 |
| Year 15 | Ksh 2,000,000 | Ksh 3,815,656 | 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 15 years would run about Ksh 21,935/month — saving Ksh 1,867,408 in interest. See the Citibank N.A. Kenya version →