Ksh 5,000,000 loan at Bank of India for 3 years.
At Bank of India's current lending rate of 14.94%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 173,180. Total cost: Ksh 6,234,472 (Ksh 1,234,472 interest).
Monthly repayment
Ksh 173,180
At 14.94% · 36 payments
Total repayment
Ksh 6,234,472
1.25× the borrowed amount
Total interest
Ksh 1,234,472
Ksh 44,142 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 1,426,199 | Ksh 651,958 | Ksh 3,573,801 |
| Year 2 | Ksh 3,080,685 | Ksh 1,075,629 | Ksh 1,919,315 |
| Year 3 | Ksh 5,000,000 | Ksh 1,234,472 | 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 3 years would run about Ksh 162,182/month — saving Ksh 395,907 in interest. See the Citibank N.A. Kenya version →