Ksh 500,000 loan at Equity Bank Kenya for 2 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,217. Total cost: Ksh 581,213 (Ksh 81,213 interest).
Monthly repayment
Ksh 24,217
At 14.89% · 24 payments
Total repayment
Ksh 581,213
1.16× the borrowed amount
Total interest
Ksh 81,213
Ksh 3,139 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 231,536 | Ksh 59,071 | Ksh 268,464 |
| Year 2 | Ksh 500,000 | Ksh 81,213 | 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 2 years would run about Ksh 23,156/month — saving Ksh 25,478 in interest. See the Citibank N.A. Kenya version →