Ksh 500,000 loan at Bank of Africa Kenya for 5 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 12,716. Total cost: Ksh 762,946 (Ksh 262,946 interest).
Monthly repayment
Ksh 12,716
At 18.07% · 60 payments
Total repayment
Ksh 762,946
1.53× the borrowed amount
Total interest
Ksh 262,946
Ksh 42,300 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 67,662 | Ksh 84,928 | Ksh 432,338 |
| Year 2 | Ksh 148,615 | Ksh 156,564 | Ksh 351,385 |
| Year 3 | Ksh 245,471 | Ksh 212,297 | Ksh 254,529 |
| Year 4 | Ksh 361,353 | Ksh 249,003 | Ksh 138,647 |
| Year 5 | Ksh 500,000 | Ksh 262,946 | 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 5 years would run about Ksh 10,712/month — saving Ksh 120,207 in interest. See the Citibank N.A. Kenya version →