Ksh 500,000 loan at Bank of Africa Kenya for 10 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 9,032. Total cost: Ksh 1,083,816 (Ksh 583,817 interest).
Monthly repayment
Ksh 9,032
At 18.07% · 120 payments
Total repayment
Ksh 1,083,816
2.17× the borrowed amount
Total interest
Ksh 583,817
Ksh 99,576 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 19,603 | Ksh 88,779 | Ksh 480,397 |
| Year 2 | Ksh 43,056 | Ksh 173,707 | Ksh 456,944 |
| Year 3 | Ksh 71,117 | Ksh 254,028 | Ksh 428,883 |
| Year 4 | Ksh 104,690 | Ksh 328,837 | Ksh 395,310 |
| Year 5 | Ksh 144,858 | Ksh 397,050 | Ksh 355,142 |
| Year 6 | Ksh 192,917 | Ksh 457,373 | Ksh 307,083 |
| Year 7 | Ksh 250,417 | Ksh 508,255 | Ksh 249,583 |
| Year 8 | Ksh 319,212 | Ksh 547,841 | Ksh 180,788 |
| Year 9 | Ksh 401,521 | Ksh 573,914 | Ksh 98,479 |
| Year 10 | Ksh 500,000 | Ksh 583,817 | 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 10 years would run about Ksh 6,708/month — saving Ksh 278,903 in interest. See the Citibank N.A. Kenya version →