Bank of India loan calculator for Ksh 1,000,000 over 15 years.
Estimate repayment for a Bank of India loan using the current 14.94% lending rate. Edit amount, term, rate and common Kenyan loan fees below.
Estimated monthly repayment
Ksh 13,955
180 monthly payments
Estimated total repayment
Ksh 2,511,864
Ksh 1,000,000 principal + interest
Estimated interest
Ksh 1,511,864
At 14.94%
Current Bank of India loan interest rate
Bank of India is listed at 14.94% weighted-average lending rate in this snapshot. The Kenya commercial-bank average is 15.99%.
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Loan details
KESCentral Bank of Kenya · May 2025
-1.05 pp vs industry average
Fees & duties
Processing, insurance, and 20% excise on interest.
CRB check, legal, valuation, stamp duty.
Monthly payment
Ksh 17,278
For 180 months · incl. fees
Total repaid
Ksh 2,945,432
Principal Ksh 1,000,000 + Ksh 1,945,432 extras
Effective APR
19.66%
Advertised rate 14.94% · 151.2% interest on principal
Repayment mix over 15 years
Early payments lean on interest; later ones clear principal.
Amortisation (yearly)
End of year · KES| Year | Interest paid | Principal paid | Balance |
|---|---|---|---|
| 0 | Ksh 0 | Ksh 0 | Ksh 1,000,000 |
| 1 | Ksh 148,111 | Ksh 19,347 | Ksh 980,653 |
| 2 | Ksh 293,125 | Ksh 41,791 | Ksh 958,210 |
| 3 | Ksh 434,546 | Ksh 67,827 | Ksh 932,173 |
| 4 | Ksh 571,800 | Ksh 98,030 | Ksh 901,970 |
| 5 | Ksh 704,219 | Ksh 133,069 | Ksh 866,931 |
| 6 | Ksh 831,030 | Ksh 173,715 | Ksh 826,285 |
| 7 | Ksh 951,335 | Ksh 220,868 | Ksh 779,132 |
| 8 | Ksh 1,064,092 | Ksh 275,569 | Ksh 724,431 |
| 9 | Ksh 1,168,093 | Ksh 339,025 | Ksh 660,975 |
| 10 | Ksh 1,261,937 | Ksh 412,638 | Ksh 587,362 |
| 11 | Ksh 1,343,998 | Ksh 498,035 | Ksh 501,965 |
| 12 | Ksh 1,412,390 | Ksh 597,101 | Ksh 402,899 |
| 13 | Ksh 1,464,925 | Ksh 712,024 | Ksh 287,976 |
| 14 | Ksh 1,499,064 | Ksh 845,342 | Ksh 154,658 |
| 15 | Ksh 1,511,864 | Ksh 1,000,000 | Ksh 0 |
What affects repayment?
Monthly repayment depends on loan amount, term, lending rate, processing fee, insurance and excise duty on interest.
Longer term tradeoff
A longer term can reduce monthly instalments but usually increases total interest paid over the life of the loan.
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