Bank of India loan calculator for Ksh 1,000,000 over 5 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 23,758
60 monthly payments
Estimated total repayment
Ksh 1,425,507
Ksh 1,000,000 principal + interest
Estimated interest
Ksh 425,507
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 27,082
For 60 months · incl. fees
Total repaid
Ksh 1,569,089
Principal Ksh 1,000,000 + Ksh 569,089 extras
Effective APR
20.41%
Advertised rate 14.94% · 42.6% interest on principal
Repayment mix over 5 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 139,711 | Ksh 145,390 | Ksh 854,610 |
| 2 | Ksh 256,150 | Ksh 314,052 | Ksh 685,948 |
| 3 | Ksh 345,592 | Ksh 509,712 | Ksh 490,288 |
| 4 | Ksh 403,715 | Ksh 736,690 | Ksh 263,310 |
| 5 | Ksh 425,507 | 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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Weighted-average rates differ by bank. Compare this loan against cheaper banks before applying.