Ksh 2,000,000 loan at Bank of Africa Kenya for 20 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 2,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 30,974. Total cost: Ksh 7,433,762 (Ksh 5,433,764 interest).
Monthly repayment
Ksh 30,974
At 18.07% · 240 payments
Total repayment
Ksh 7,433,762
3.72× the borrowed amount
Total interest
Ksh 5,433,764
Ksh 956,574 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 11,185 | Ksh 360,504 | Ksh 1,988,815 |
| Year 2 | Ksh 24,566 | Ksh 718,810 | Ksh 1,975,434 |
| Year 3 | Ksh 40,576 | Ksh 1,074,488 | Ksh 1,959,424 |
| Year 4 | Ksh 59,732 | Ksh 1,427,021 | Ksh 1,940,268 |
| Year 5 | Ksh 82,650 | Ksh 1,775,790 | Ksh 1,917,350 |
| Year 6 | Ksh 110,071 | Ksh 2,120,058 | Ksh 1,889,929 |
| Year 7 | Ksh 142,878 | Ksh 2,458,939 | Ksh 1,857,122 |
| Year 8 | Ksh 182,130 | Ksh 2,791,375 | Ksh 1,817,870 |
| Year 9 | Ksh 229,093 | Ksh 3,116,101 | Ksh 1,770,907 |
| Year 10 | Ksh 285,281 | Ksh 3,431,601 | Ksh 1,714,719 |
| Year 11 | Ksh 352,507 | Ksh 3,736,063 | Ksh 1,647,493 |
| Year 12 | Ksh 432,939 | Ksh 4,027,319 | Ksh 1,567,061 |
| Year 13 | Ksh 529,171 | Ksh 4,302,775 | Ksh 1,470,829 |
| Year 14 | Ksh 644,308 | Ksh 4,559,327 | Ksh 1,355,692 |
| Year 15 | Ksh 782,062 | Ksh 4,793,261 | Ksh 1,217,938 |
| Year 16 | Ksh 946,877 | Ksh 5,000,134 | Ksh 1,053,123 |
| Year 17 | Ksh 1,144,069 | Ksh 5,174,630 | Ksh 855,931 |
| Year 18 | Ksh 1,379,998 | Ksh 5,310,389 | Ksh 620,002 |
| Year 19 | Ksh 1,662,274 | Ksh 5,399,802 | Ksh 337,727 |
| Year 20 | Ksh 2,000,000 | Ksh 5,433,764 | 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 20 years would run about Ksh 19,780/month — saving Ksh 2,686,595 in interest. See the Citibank N.A. Kenya version →