Ksh 1,000,000 loan at Equity Bank Kenya for 5 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 23,732. Total cost: Ksh 1,423,934 (Ksh 423,934 interest).
Monthly repayment
Ksh 23,732
At 14.89% · 60 payments
Total repayment
Ksh 1,423,934
1.42× the borrowed amount
Total interest
Ksh 423,934
Ksh 17,357 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 145,555 | Ksh 139,232 | Ksh 854,445 |
| Year 2 | Ksh 314,325 | Ksh 255,248 | Ksh 685,675 |
| Year 3 | Ksh 510,013 | Ksh 344,347 | Ksh 489,987 |
| Year 4 | Ksh 736,912 | Ksh 402,235 | Ksh 263,088 |
| Year 5 | Ksh 1,000,000 | Ksh 423,934 | 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 5 years would run about Ksh 21,425/month — saving Ksh 138,457 in interest. See the Citibank N.A. Kenya version →