Ksh 10,000,000 loan at Equity Bank Kenya for 3 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 346,115. Total cost: Ksh 12,460,135 (Ksh 2,460,135 interest).
Monthly repayment
Ksh 346,115
At 14.89% · 36 payments
Total repayment
Ksh 12,460,135
1.25× the borrowed amount
Total interest
Ksh 2,460,135
Ksh 97,092 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 2,853,946 | Ksh 1,299,432 | Ksh 7,146,054 |
| Year 2 | Ksh 6,163,079 | Ksh 2,143,677 | Ksh 3,836,921 |
| Year 3 | Ksh 10,000,000 | Ksh 2,460,135 | 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 3 years would run about Ksh 324,365/month — saving Ksh 783,006 in interest. See the Citibank N.A. Kenya version →