Ksh 500,000 loan at Equity Bank Kenya for 10 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,033. Total cost: Ksh 963,972 (Ksh 463,972 interest).
Monthly repayment
Ksh 8,033
At 14.89% · 120 payments
Total repayment
Ksh 963,972
1.93× the borrowed amount
Total interest
Ksh 463,972
Ksh 20,268 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 23,509 | Ksh 72,888 | Ksh 476,491 |
| Year 2 | Ksh 50,767 | Ksh 142,027 | Ksh 449,233 |
| Year 3 | Ksh 82,373 | Ksh 206,819 | Ksh 417,627 |
| Year 4 | Ksh 119,019 | Ksh 266,569 | Ksh 380,981 |
| Year 5 | Ksh 161,511 | Ksh 320,475 | Ksh 338,489 |
| Year 6 | Ksh 210,780 | Ksh 367,603 | Ksh 289,220 |
| Year 7 | Ksh 267,907 | Ksh 406,874 | Ksh 232,093 |
| Year 8 | Ksh 334,145 | Ksh 437,033 | Ksh 165,855 |
| Year 9 | Ksh 410,948 | Ksh 456,627 | Ksh 89,052 |
| Year 10 | Ksh 500,000 | Ksh 463,972 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 159,058 in interest. See the Citibank N.A. Kenya version →