Ksh 5,000,000 loan at Equity Bank Kenya for 3 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 173,057. Total cost: Ksh 6,230,067 (Ksh 1,230,067 interest).
Monthly repayment
Ksh 173,057
At 14.89% · 36 payments
Total repayment
Ksh 6,230,067
1.25× the borrowed amount
Total interest
Ksh 1,230,067
Ksh 48,546 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 1,426,973 | Ksh 649,716 | Ksh 3,573,027 |
| Year 2 | Ksh 3,081,540 | Ksh 1,071,839 | Ksh 1,918,460 |
| Year 3 | Ksh 5,000,000 | Ksh 1,230,067 | 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 3 years would run about Ksh 162,182/month — saving Ksh 391,503 in interest. See the Citibank N.A. Kenya version →