Ksh 2,000,000 loan at Bank of India for 3 years.
At Bank of India's current lending rate of 14.94%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 69,272. Total cost: Ksh 2,493,789 (Ksh 493,789 interest).
Monthly repayment
Ksh 69,272
At 14.94% · 36 payments
Total repayment
Ksh 2,493,789
1.25× the borrowed amount
Total interest
Ksh 493,789
Ksh 17,657 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 570,480 | Ksh 260,783 | Ksh 1,429,520 |
| Year 2 | Ksh 1,232,274 | Ksh 430,252 | Ksh 767,726 |
| Year 3 | Ksh 2,000,000 | Ksh 493,789 | 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 3 years would run about Ksh 64,873/month — saving Ksh 158,363 in interest. See the Citibank N.A. Kenya version →