Ksh 2,000,000 loan at Bank of Africa Kenya for 5 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 50,863. Total cost: Ksh 3,051,783 (Ksh 1,051,783 interest).
Monthly repayment
Ksh 50,863
At 18.07% · 60 payments
Total repayment
Ksh 3,051,783
1.53× the borrowed amount
Total interest
Ksh 1,051,783
Ksh 169,201 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 270,646 | Ksh 339,710 | Ksh 1,729,354 |
| Year 2 | Ksh 594,459 | Ksh 626,254 | Ksh 1,405,541 |
| Year 3 | Ksh 981,882 | Ksh 849,187 | Ksh 1,018,118 |
| Year 4 | Ksh 1,445,413 | Ksh 996,014 | Ksh 554,587 |
| Year 5 | Ksh 2,000,000 | Ksh 1,051,783 | 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 5 years would run about Ksh 42,849/month — saving Ksh 480,829 in interest. See the Citibank N.A. Kenya version →