Ksh 10,000,000 loan at Bank of India for 10 years.
At Bank of India's current lending rate of 14.94%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 160,968. Total cost: Ksh 19,316,126 (Ksh 9,316,127 interest).
Monthly repayment
Ksh 160,968
At 14.94% · 120 payments
Total repayment
Ksh 19,316,126
1.93× the borrowed amount
Total interest
Ksh 9,316,127
Ksh 368,677 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 468,857 | Ksh 1,462,755 | Ksh 9,531,143 |
| Year 2 | Ksh 1,012,763 | Ksh 2,850,462 | Ksh 8,987,237 |
| Year 3 | Ksh 1,643,730 | Ksh 4,151,108 | Ksh 8,356,270 |
| Year 4 | Ksh 2,375,694 | Ksh 5,350,756 | Ksh 7,624,306 |
| Year 5 | Ksh 3,224,821 | Ksh 6,433,242 | Ksh 6,775,179 |
| Year 6 | Ksh 4,209,866 | Ksh 7,379,810 | Ksh 5,790,134 |
| Year 7 | Ksh 5,352,583 | Ksh 8,168,706 | Ksh 4,647,417 |
| Year 8 | Ksh 6,678,211 | Ksh 8,774,690 | Ksh 3,321,789 |
| Year 9 | Ksh 8,216,029 | Ksh 9,168,485 | Ksh 1,783,971 |
| Year 10 | Ksh 10,000,000 | Ksh 9,316,127 | 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 10 years would run about Ksh 134,152/month — saving Ksh 3,217,852 in interest. See the Citibank N.A. Kenya version →