Ksh 1,000,000 loan at Bank of India for 25 years.
At Bank of India's current lending rate of 14.94%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 12,762. Total cost: Ksh 3,828,531 (Ksh 2,828,531 interest).
Monthly repayment
Ksh 12,762
At 14.94% · 300 payments
Total repayment
Ksh 3,828,531
3.83× the borrowed amount
Total interest
Ksh 2,828,531
Ksh 116,658 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 4,008 | Ksh 149,133 | Ksh 995,992 |
| Year 2 | Ksh 8,658 | Ksh 297,624 | Ksh 991,342 |
| Year 3 | Ksh 14,053 | Ksh 445,371 | Ksh 985,947 |
| Year 4 | Ksh 20,310 | Ksh 592,255 | Ksh 979,690 |
| Year 5 | Ksh 27,570 | Ksh 738,137 | Ksh 972,430 |
| Year 6 | Ksh 35,991 | Ksh 882,856 | Ksh 964,009 |
| Year 7 | Ksh 45,760 | Ksh 1,026,228 | Ksh 954,240 |
| Year 8 | Ksh 57,094 | Ksh 1,168,036 | Ksh 942,906 |
| Year 9 | Ksh 70,241 | Ksh 1,308,031 | Ksh 929,759 |
| Year 10 | Ksh 85,492 | Ksh 1,445,920 | Ksh 914,508 |
| Year 11 | Ksh 103,185 | Ksh 1,581,369 | Ksh 896,815 |
| Year 12 | Ksh 123,710 | Ksh 1,713,985 | Ksh 876,290 |
| Year 13 | Ksh 147,520 | Ksh 1,843,316 | Ksh 852,480 |
| Year 14 | Ksh 175,142 | Ksh 1,968,836 | Ksh 824,858 |
| Year 15 | Ksh 207,184 | Ksh 2,089,934 | Ksh 792,816 |
| Year 16 | Ksh 244,356 | Ksh 2,205,904 | Ksh 755,644 |
| Year 17 | Ksh 287,478 | Ksh 2,315,923 | Ksh 712,522 |
| Year 18 | Ksh 337,502 | Ksh 2,419,041 | Ksh 662,498 |
| Year 19 | Ksh 395,533 | Ksh 2,514,151 | Ksh 604,467 |
| Year 20 | Ksh 462,853 | Ksh 2,599,972 | Ksh 537,147 |
| Year 21 | Ksh 540,949 | Ksh 2,675,017 | Ksh 459,051 |
| Year 22 | Ksh 631,546 | Ksh 2,737,562 | Ksh 368,454 |
| Year 23 | Ksh 736,643 | Ksh 2,785,605 | Ksh 263,357 |
| Year 24 | Ksh 858,564 | Ksh 2,816,826 | Ksh 141,436 |
| Year 25 | Ksh 1,000,000 | Ksh 2,828,531 | 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 25 years would run about Ksh 9,342/month — saving Ksh 1,025,930 in interest. See the Citibank N.A. Kenya version →