Ksh 10,000,000 loan at Bank of India for 2 years.
At Bank of India's current lending rate of 14.94%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 484,581. Total cost: Ksh 11,629,955 (Ksh 1,629,955 interest).
Monthly repayment
Ksh 484,581
At 14.94% · 24 payments
Total repayment
Ksh 11,629,955
1.16× the borrowed amount
Total interest
Ksh 1,629,955
Ksh 57,075 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 4,629,486 | Ksh 1,185,491 | Ksh 5,370,514 |
| Year 2 | Ksh 10,000,000 | Ksh 1,629,955 | 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 2 years would run about Ksh 463,113/month — saving Ksh 515,252 in interest. See the Citibank N.A. Kenya version →