Ksh 1,000,000 loan at Equity Bank Kenya for 15 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 13,921. Total cost: Ksh 2,505,710 (Ksh 1,505,709 interest).
Monthly repayment
Ksh 13,921
At 14.89% · 180 payments
Total repayment
Ksh 2,505,710
2.51× the borrowed amount
Total interest
Ksh 1,505,709
Ksh 68,013 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 19,438 | Ksh 147,609 | Ksh 980,562 |
| Year 2 | Ksh 41,977 | Ksh 292,117 | Ksh 958,023 |
| Year 3 | Ksh 68,111 | Ksh 433,031 | Ksh 931,889 |
| Year 4 | Ksh 98,412 | Ksh 569,777 | Ksh 901,588 |
| Year 5 | Ksh 133,547 | Ksh 701,689 | Ksh 866,453 |
| Year 6 | Ksh 174,285 | Ksh 827,998 | Ksh 825,715 |
| Year 7 | Ksh 221,521 | Ksh 947,810 | Ksh 778,479 |
| Year 8 | Ksh 276,291 | Ksh 1,060,087 | Ksh 723,709 |
| Year 9 | Ksh 339,796 | Ksh 1,163,629 | Ksh 660,204 |
| Year 10 | Ksh 413,430 | Ksh 1,257,042 | Ksh 586,570 |
| Year 11 | Ksh 498,808 | Ksh 1,338,712 | Ksh 501,192 |
| Year 12 | Ksh 597,804 | Ksh 1,406,763 | Ksh 402,196 |
| Year 13 | Ksh 712,588 | Ksh 1,459,026 | Ksh 287,412 |
| Year 14 | Ksh 845,681 | Ksh 1,492,981 | Ksh 154,319 |
| Year 15 | Ksh 1,000,000 | Ksh 1,505,709 | 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 15 years would run about Ksh 10,967/month — saving Ksh 531,585 in interest. See the Citibank N.A. Kenya version →