Ksh 1,000,000 loan at Equity Bank Kenya for 10 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,066. Total cost: Ksh 1,927,944 (Ksh 927,944 interest).
Monthly repayment
Ksh 16,066
At 14.89% · 120 payments
Total repayment
Ksh 1,927,944
1.93× the borrowed amount
Total interest
Ksh 927,944
Ksh 40,536 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 47,017 | Ksh 145,777 | Ksh 952,983 |
| Year 2 | Ksh 101,534 | Ksh 284,055 | Ksh 898,466 |
| Year 3 | Ksh 164,745 | Ksh 413,638 | Ksh 835,255 |
| Year 4 | Ksh 238,039 | Ksh 533,139 | Ksh 761,961 |
| Year 5 | Ksh 323,022 | Ksh 640,950 | Ksh 676,978 |
| Year 6 | Ksh 421,559 | Ksh 735,207 | Ksh 578,441 |
| Year 7 | Ksh 535,813 | Ksh 813,748 | Ksh 464,187 |
| Year 8 | Ksh 668,290 | Ksh 874,066 | Ksh 331,711 |
| Year 9 | Ksh 821,895 | Ksh 913,254 | Ksh 178,105 |
| Year 10 | Ksh 1,000,000 | Ksh 927,944 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 318,116 in interest. See the Citibank N.A. Kenya version →