Ksh 500,000 loan at Equity Bank Kenya for 5 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 11,866. Total cost: Ksh 711,967 (Ksh 211,967 interest).
Monthly repayment
Ksh 11,866
At 14.89% · 60 payments
Total repayment
Ksh 711,967
1.42× the borrowed amount
Total interest
Ksh 211,967
Ksh 8,679 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 72,777 | Ksh 69,616 | Ksh 427,223 |
| Year 2 | Ksh 157,163 | Ksh 127,624 | Ksh 342,837 |
| Year 3 | Ksh 255,006 | Ksh 172,174 | Ksh 244,994 |
| Year 4 | Ksh 368,456 | Ksh 201,118 | Ksh 131,544 |
| Year 5 | Ksh 500,000 | Ksh 211,967 | 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 5 years would run about Ksh 10,712/month — saving Ksh 69,228 in interest. See the Citibank N.A. Kenya version →