Ksh 500,000 loan at Bank of Africa Kenya for 1 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 500,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 45,857. Total cost: Ksh 550,280 (Ksh 50,280 interest).
Monthly repayment
Ksh 45,857
At 18.07% · 12 payments
Total repayment
Ksh 550,280
1.10× the borrowed amount
Total interest
Ksh 50,280
Ksh 7,483 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 500,000 | Ksh 50,280 | 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 500,000 loan over 1 years would run about Ksh 44,042/month — saving Ksh 21,779 in interest. See the Citibank N.A. Kenya version →