Ksh 500,000 loan at Bank of Africa Kenya for 2 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,979. Total cost: Ksh 599,495 (Ksh 99,495 interest).
Monthly repayment
Ksh 24,979
At 18.07% · 24 payments
Total repayment
Ksh 599,495
1.20× the borrowed amount
Total interest
Ksh 99,495
Ksh 15,144 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 227,641 | Ksh 72,107 | Ksh 272,359 |
| Year 2 | Ksh 500,000 | Ksh 99,495 | 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 2 years would run about Ksh 23,156/month — saving Ksh 43,760 in interest. See the Citibank N.A. Kenya version →