Ksh 5,000,000 loan at Bank of India for 2 years.
At Bank of India's current lending rate of 14.94%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 242,291. Total cost: Ksh 5,814,978 (Ksh 814,978 interest).
Monthly repayment
Ksh 242,291
At 14.94% · 24 payments
Total repayment
Ksh 5,814,978
1.16× the borrowed amount
Total interest
Ksh 814,978
Ksh 28,538 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 2,314,743 | Ksh 592,746 | Ksh 2,685,257 |
| Year 2 | Ksh 5,000,000 | Ksh 814,978 | 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 5,000,000 loan over 2 years would run about Ksh 231,556/month — saving Ksh 257,626 in interest. See the Citibank N.A. Kenya version →