Ksh 10,000,000 loan at Equity Bank Kenya for 1 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 10,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 902,064. Total cost: Ksh 10,824,770 (Ksh 824,770 interest).
Monthly repayment
Ksh 902,064
At 14.89% · 12 payments
Total repayment
Ksh 10,824,770
1.08× the borrowed amount
Total interest
Ksh 824,770
Ksh 31,158 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 10,000,000 | Ksh 824,770 | 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 10,000,000 loan over 1 years would run about Ksh 880,834/month — saving Ksh 254,761 in interest. See the Citibank N.A. Kenya version →