Ksh 1,000,000 loan at Equity Bank Kenya for 2 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 48,434. Total cost: Ksh 1,162,426 (Ksh 162,426 interest).
Monthly repayment
Ksh 48,434
At 14.89% · 24 payments
Total repayment
Ksh 1,162,426
1.16× the borrowed amount
Total interest
Ksh 162,426
Ksh 6,277 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 463,071 | Ksh 118,141 | Ksh 536,929 |
| Year 2 | Ksh 1,000,000 | Ksh 162,426 | 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 2 years would run about Ksh 46,311/month — saving Ksh 50,955 in interest. See the Citibank N.A. Kenya version →