Ksh 10,000,000 loan at Bank of Baroda (Kenya) for 3 years.
At Bank of Baroda (Kenya)'s current lending rate of 15.12%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 347,241. Total cost: Ksh 12,500,684 (Ksh 2,500,684 interest).
Monthly repayment
Ksh 347,241
At 15.12% · 36 payments
Total repayment
Ksh 12,500,684
1.25× the borrowed amount
Total interest
Ksh 2,500,684
Ksh 56,543 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 2,846,830 | Ksh 1,320,065 | Ksh 7,153,170 |
| Year 2 | Ksh 6,155,219 | Ksh 2,178,571 | Ksh 3,844,781 |
| Year 3 | Ksh 10,000,000 | Ksh 2,500,684 | 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 10,000,000 loan over 3 years would run about Ksh 324,365/month — saving Ksh 823,555 in interest. See the Citibank N.A. Kenya version →