Ksh 5,000,000 loan at Bank of Africa Kenya for 15 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 80,773. Total cost: Ksh 14,539,140 (Ksh 9,539,140 interest).
Monthly repayment
Ksh 80,773
At 18.07% · 180 payments
Total repayment
Ksh 14,539,140
2.91× the borrowed amount
Total interest
Ksh 9,539,140
Ksh 1,670,530 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 71,507 | Ksh 897,769 | Ksh 4,928,493 |
| Year 2 | Ksh 157,060 | Ksh 1,781,492 | Ksh 4,842,940 |
| Year 3 | Ksh 259,420 | Ksh 2,648,408 | Ksh 4,740,580 |
| Year 4 | Ksh 381,888 | Ksh 3,495,216 | Ksh 4,618,112 |
| Year 5 | Ksh 528,413 | Ksh 4,317,967 | Ksh 4,471,587 |
| Year 6 | Ksh 703,723 | Ksh 5,111,933 | Ksh 4,296,277 |
| Year 7 | Ksh 913,471 | Ksh 5,871,461 | Ksh 4,086,529 |
| Year 8 | Ksh 1,164,422 | Ksh 6,589,785 | Ksh 3,835,578 |
| Year 9 | Ksh 1,464,671 | Ksh 7,258,812 | Ksh 3,535,329 |
| Year 10 | Ksh 1,823,902 | Ksh 7,868,857 | Ksh 3,176,098 |
| Year 11 | Ksh 2,253,702 | Ksh 8,408,334 | Ksh 2,746,298 |
| Year 12 | Ksh 2,767,932 | Ksh 8,863,379 | Ksh 2,232,068 |
| Year 13 | Ksh 3,383,180 | Ksh 9,217,408 | Ksh 1,616,820 |
| Year 14 | Ksh 4,119,288 | Ksh 9,450,575 | Ksh 880,712 |
| Year 15 | Ksh 5,000,000 | Ksh 9,539,140 | 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 15 years would run about Ksh 54,837/month — saving Ksh 4,668,520 in interest. See the Citibank N.A. Kenya version →