Ksh 500,000 loan at Equity Bank Kenya for 15 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 6,960. Total cost: Ksh 1,252,854 (Ksh 752,855 interest).
Monthly repayment
Ksh 6,960
At 14.89% · 180 payments
Total repayment
Ksh 1,252,854
2.51× the borrowed amount
Total interest
Ksh 752,855
Ksh 34,006 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 9,719 | Ksh 73,804 | Ksh 490,281 |
| Year 2 | Ksh 20,989 | Ksh 146,059 | Ksh 479,011 |
| Year 3 | Ksh 34,055 | Ksh 216,516 | Ksh 465,945 |
| Year 4 | Ksh 49,206 | Ksh 284,888 | Ksh 450,794 |
| Year 5 | Ksh 66,774 | Ksh 350,845 | Ksh 433,226 |
| Year 6 | Ksh 87,143 | Ksh 413,999 | Ksh 412,857 |
| Year 7 | Ksh 110,761 | Ksh 473,905 | Ksh 389,239 |
| Year 8 | Ksh 138,146 | Ksh 530,044 | Ksh 361,854 |
| Year 9 | Ksh 169,898 | Ksh 581,815 | Ksh 330,102 |
| Year 10 | Ksh 206,715 | Ksh 628,521 | Ksh 293,285 |
| Year 11 | Ksh 249,404 | Ksh 669,356 | Ksh 250,596 |
| Year 12 | Ksh 298,902 | Ksh 703,382 | Ksh 201,098 |
| Year 13 | Ksh 356,294 | Ksh 729,513 | Ksh 143,706 |
| Year 14 | Ksh 422,840 | Ksh 746,491 | Ksh 77,160 |
| Year 15 | Ksh 500,000 | Ksh 752,855 | 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 15 years would run about Ksh 5,484/month — saving Ksh 265,793 in interest. See the Citibank N.A. Kenya version →