Ksh 500,000 loan at Bank of Africa Kenya for 15 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 8,077. Total cost: Ksh 1,453,914 (Ksh 953,914 interest).
Monthly repayment
Ksh 8,077
At 18.07% · 180 payments
Total repayment
Ksh 1,453,914
2.91× the borrowed amount
Total interest
Ksh 953,914
Ksh 167,053 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 7,151 | Ksh 89,777 | Ksh 492,849 |
| Year 2 | Ksh 15,706 | Ksh 178,149 | Ksh 484,294 |
| Year 3 | Ksh 25,942 | Ksh 264,841 | Ksh 474,058 |
| Year 4 | Ksh 38,189 | Ksh 349,522 | Ksh 461,811 |
| Year 5 | Ksh 52,841 | Ksh 431,797 | Ksh 447,159 |
| Year 6 | Ksh 70,372 | Ksh 511,193 | Ksh 429,628 |
| Year 7 | Ksh 91,347 | Ksh 587,146 | Ksh 408,653 |
| Year 8 | Ksh 116,442 | Ksh 658,979 | Ksh 383,558 |
| Year 9 | Ksh 146,467 | Ksh 725,881 | Ksh 353,533 |
| Year 10 | Ksh 182,390 | Ksh 786,886 | Ksh 317,610 |
| Year 11 | Ksh 225,370 | Ksh 840,833 | Ksh 274,630 |
| Year 12 | Ksh 276,793 | Ksh 886,338 | Ksh 223,207 |
| Year 13 | Ksh 338,318 | Ksh 921,741 | Ksh 161,682 |
| Year 14 | Ksh 411,929 | Ksh 945,058 | Ksh 88,071 |
| Year 15 | Ksh 500,000 | Ksh 953,914 | 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 15 years would run about Ksh 5,484/month — saving Ksh 466,852 in interest. See the Citibank N.A. Kenya version →