Ksh 500,000 loan at Bank of Africa Kenya for 3 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 18,094. Total cost: Ksh 651,375 (Ksh 151,375 interest).
Monthly repayment
Ksh 18,094
At 18.07% · 36 payments
Total repayment
Ksh 651,375
1.30× the borrowed amount
Total interest
Ksh 151,375
Ksh 23,514 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 137,820 | Ksh 79,305 | Ksh 362,180 |
| Year 2 | Ksh 302,714 | Ksh 131,536 | Ksh 197,286 |
| Year 3 | Ksh 500,000 | Ksh 151,375 | 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 3 years would run about Ksh 16,218/month — saving Ksh 67,519 in interest. See the Citibank N.A. Kenya version →