Ksh 5,000,000 loan at Bank of Africa Kenya for 5 years.
At Bank of Africa Kenya's current lending rate of 18.07%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 127,158. Total cost: Ksh 7,629,457 (Ksh 2,629,457 interest).
Monthly repayment
Ksh 127,158
At 18.07% · 60 payments
Total repayment
Ksh 7,629,457
1.53× the borrowed amount
Total interest
Ksh 2,629,457
Ksh 423,002 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 676,616 | Ksh 849,276 | Ksh 4,323,384 |
| Year 2 | Ksh 1,486,147 | Ksh 1,565,635 | Ksh 3,513,853 |
| Year 3 | Ksh 2,454,706 | Ksh 2,122,968 | Ksh 2,545,294 |
| Year 4 | Ksh 3,613,532 | Ksh 2,490,034 | Ksh 1,386,468 |
| Year 5 | Ksh 5,000,000 | Ksh 2,629,457 | 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 5 years would run about Ksh 107,123/month — saving Ksh 1,202,073 in interest. See the Citibank N.A. Kenya version →