Ksh 5,000,000 loan at Bank of Africa Kenya for 10 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 90,318. Total cost: Ksh 10,838,166 (Ksh 5,838,166 interest).
Monthly repayment
Ksh 90,318
At 18.07% · 120 payments
Total repayment
Ksh 10,838,166
2.17× the borrowed amount
Total interest
Ksh 5,838,166
Ksh 995,764 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 196,026 | Ksh 887,790 | Ksh 4,803,974 |
| Year 2 | Ksh 430,560 | Ksh 1,737,073 | Ksh 4,569,440 |
| Year 3 | Ksh 711,167 | Ksh 2,540,283 | Ksh 4,288,833 |
| Year 4 | Ksh 1,046,897 | Ksh 3,288,369 | Ksh 3,953,103 |
| Year 5 | Ksh 1,448,579 | Ksh 3,970,504 | Ksh 3,551,421 |
| Year 6 | Ksh 1,929,168 | Ksh 4,573,731 | Ksh 3,070,832 |
| Year 7 | Ksh 2,504,166 | Ksh 5,082,550 | Ksh 2,495,834 |
| Year 8 | Ksh 3,192,118 | Ksh 5,478,415 | Ksh 1,807,882 |
| Year 9 | Ksh 4,015,213 | Ksh 5,739,136 | Ksh 984,787 |
| Year 10 | Ksh 5,000,000 | Ksh 5,838,166 | 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 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 2,789,028 in interest. See the Citibank N.A. Kenya version →