Ksh 2,000,000 loan at Bank of Africa Kenya for 2 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 99,916. Total cost: Ksh 2,397,981 (Ksh 397,981 interest).
Monthly repayment
Ksh 99,916
At 18.07% · 24 payments
Total repayment
Ksh 2,397,981
1.20× the borrowed amount
Total interest
Ksh 397,981
Ksh 60,575 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 910,563 | Ksh 288,427 | Ksh 1,089,437 |
| Year 2 | Ksh 2,000,000 | Ksh 397,981 | 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 2 years would run about Ksh 92,623/month — saving Ksh 175,040 in interest. See the Citibank N.A. Kenya version →