Ksh 5,000,000 loan at Bank of Africa Kenya for 2 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 249,790. Total cost: Ksh 5,994,952 (Ksh 994,952 interest).
Monthly repayment
Ksh 249,790
At 18.07% · 24 payments
Total repayment
Ksh 5,994,952
1.20× the borrowed amount
Total interest
Ksh 994,952
Ksh 151,437 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 2,276,408 | Ksh 721,068 | Ksh 2,723,592 |
| Year 2 | Ksh 5,000,000 | Ksh 994,952 | 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 2 years would run about Ksh 231,556/month — saving Ksh 437,600 in interest. See the Citibank N.A. Kenya version →