Ksh 2,000,000 loan at Bank of India for 15 years.
At Bank of India's current lending rate of 14.94%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 27,910. Total cost: Ksh 5,023,728 (Ksh 3,023,727 interest).
Monthly repayment
Ksh 27,910
At 14.94% · 180 payments
Total repayment
Ksh 5,023,728
2.51× the borrowed amount
Total interest
Ksh 3,023,727
Ksh 123,717 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 38,694 | Ksh 296,221 | Ksh 1,961,306 |
| Year 2 | Ksh 83,581 | Ksh 586,249 | Ksh 1,916,419 |
| Year 3 | Ksh 135,653 | Ksh 869,092 | Ksh 1,864,347 |
| Year 4 | Ksh 196,061 | Ksh 1,143,600 | Ksh 1,803,939 |
| Year 5 | Ksh 266,137 | Ksh 1,408,439 | Ksh 1,733,863 |
| Year 6 | Ksh 347,430 | Ksh 1,662,060 | Ksh 1,652,570 |
| Year 7 | Ksh 441,736 | Ksh 1,902,670 | Ksh 1,558,264 |
| Year 8 | Ksh 551,137 | Ksh 2,128,184 | Ksh 1,448,863 |
| Year 9 | Ksh 678,050 | Ksh 2,336,187 | Ksh 1,321,950 |
| Year 10 | Ksh 825,277 | Ksh 2,523,875 | Ksh 1,174,723 |
| Year 11 | Ksh 996,070 | Ksh 2,687,997 | Ksh 1,003,930 |
| Year 12 | Ksh 1,194,202 | Ksh 2,824,780 | Ksh 805,798 |
| Year 13 | Ksh 1,424,047 | Ksh 2,929,850 | Ksh 575,953 |
| Year 14 | Ksh 1,690,684 | Ksh 2,998,128 | Ksh 309,316 |
| Year 15 | Ksh 2,000,000 | Ksh 3,023,727 | 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 2,000,000 loan over 15 years would run about Ksh 21,935/month — saving Ksh 1,075,480 in interest. See the Citibank N.A. Kenya version →