Ksh 10,000,000 loan at Equity Bank Kenya for 5 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 237,322. Total cost: Ksh 14,239,337 (Ksh 4,239,337 interest).
Monthly repayment
Ksh 237,322
At 14.89% · 60 payments
Total repayment
Ksh 14,239,337
1.42× the borrowed amount
Total interest
Ksh 4,239,337
Ksh 173,572 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 1,455,549 | Ksh 1,392,318 | Ksh 8,544,451 |
| Year 2 | Ksh 3,143,250 | Ksh 2,552,484 | Ksh 6,856,750 |
| Year 3 | Ksh 5,100,130 | Ksh 3,443,473 | Ksh 4,899,870 |
| Year 4 | Ksh 7,369,120 | Ksh 4,022,350 | Ksh 2,630,880 |
| Year 5 | Ksh 10,000,000 | Ksh 4,239,337 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,384,570 in interest. See the Citibank N.A. Kenya version →