Ksh 5,000,000 loan at Bank of Africa Kenya for 3 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 180,938. Total cost: Ksh 6,513,754 (Ksh 1,513,754 interest).
Monthly repayment
Ksh 180,938
At 18.07% · 36 payments
Total repayment
Ksh 6,513,754
1.30× the borrowed amount
Total interest
Ksh 1,513,754
Ksh 235,140 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 1,378,201 | Ksh 793,051 | Ksh 3,621,799 |
| Year 2 | Ksh 3,027,139 | Ksh 1,315,363 | Ksh 1,972,861 |
| Year 3 | Ksh 5,000,000 | Ksh 1,513,754 | 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 3 years would run about Ksh 162,182/month — saving Ksh 675,189 in interest. See the Citibank N.A. Kenya version →