Ksh 500,000 loan at Bank of India for 1 years.
At Bank of India's current lending rate of 14.94%, a Ksh 500,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 45,115. Total cost: Ksh 541,380 (Ksh 41,380 interest).
Monthly repayment
Ksh 45,115
At 14.94% · 12 payments
Total repayment
Ksh 541,380
1.08× the borrowed amount
Total interest
Ksh 41,380
Ksh 1,416 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 500,000 | Ksh 41,380 | 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 500,000 loan over 1 years would run about Ksh 44,042/month — saving Ksh 12,880 in interest. See the Citibank N.A. Kenya version →