Ksh 1,000,000 loan at Bank of Baroda (Kenya) for 10 years.
At Bank of Baroda (Kenya)'s current lending rate of 15.12%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,207. Total cost: Ksh 1,944,847 (Ksh 944,847 interest).
Monthly repayment
Ksh 16,207
At 15.12% · 120 payments
Total repayment
Ksh 1,944,847
1.94× the borrowed amount
Total interest
Ksh 944,847
Ksh 23,633 less 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 46,414 | Ksh 148,071 | Ksh 953,586 |
| Year 2 | Ksh 100,353 | Ksh 288,616 | Ksh 899,647 |
| Year 3 | Ksh 163,037 | Ksh 420,417 | Ksh 836,963 |
| Year 4 | Ksh 235,885 | Ksh 542,054 | Ksh 764,115 |
| Year 5 | Ksh 320,543 | Ksh 651,881 | Ksh 679,457 |
| Year 6 | Ksh 418,927 | Ksh 747,981 | Ksh 581,073 |
| Year 7 | Ksh 533,262 | Ksh 828,131 | Ksh 466,738 |
| Year 8 | Ksh 666,134 | Ksh 889,743 | Ksh 333,866 |
| Year 9 | Ksh 820,550 | Ksh 929,813 | Ksh 179,450 |
| Year 10 | Ksh 1,000,000 | Ksh 944,847 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 335,020 in interest. See the Citibank N.A. Kenya version →