Ksh 5,000,000 loan at Bank of India for 5 years.
At Bank of India's current lending rate of 14.94%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 118,792. Total cost: Ksh 7,127,534 (Ksh 2,127,534 interest).
Monthly repayment
Ksh 118,792
At 14.94% · 60 payments
Total repayment
Ksh 7,127,534
1.43× the borrowed amount
Total interest
Ksh 2,127,534
Ksh 78,920 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 726,951 | Ksh 698,556 | Ksh 4,273,049 |
| Year 2 | Ksh 1,570,262 | Ksh 1,280,751 | Ksh 3,429,738 |
| Year 3 | Ksh 2,548,560 | Ksh 1,727,960 | Ksh 2,451,440 |
| Year 4 | Ksh 3,683,451 | Ksh 2,018,576 | Ksh 1,316,549 |
| Year 5 | Ksh 5,000,000 | Ksh 2,127,534 | 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 5 years would run about Ksh 107,123/month — saving Ksh 700,150 in interest. See the Citibank N.A. Kenya version →