Ksh 5,000,000 loan at Equity Bank Kenya for 2 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 242,172. Total cost: Ksh 5,812,128 (Ksh 812,128 interest).
Monthly repayment
Ksh 242,172
At 14.89% · 24 payments
Total repayment
Ksh 5,812,128
1.16× the borrowed amount
Total interest
Ksh 812,128
Ksh 31,387 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 2,315,357 | Ksh 590,707 | Ksh 2,684,643 |
| Year 2 | Ksh 5,000,000 | Ksh 812,128 | 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 5,000,000 loan over 2 years would run about Ksh 231,556/month — saving Ksh 254,777 in interest. See the Citibank N.A. Kenya version →