Ksh 5,000,000 loan at Equity Bank Kenya for 5 years.
At Equity Bank Kenya's current lending rate of 14.89%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 118,661. Total cost: Ksh 7,119,668 (Ksh 2,119,669 interest).
Monthly repayment
Ksh 118,661
At 14.89% · 60 payments
Total repayment
Ksh 7,119,668
1.42× the borrowed amount
Total interest
Ksh 2,119,669
Ksh 86,786 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 727,775 | Ksh 696,159 | Ksh 4,272,225 |
| Year 2 | Ksh 1,571,625 | Ksh 1,276,242 | Ksh 3,428,375 |
| Year 3 | Ksh 2,550,065 | Ksh 1,721,736 | Ksh 2,449,935 |
| Year 4 | Ksh 3,684,560 | Ksh 2,011,175 | Ksh 1,315,440 |
| Year 5 | Ksh 5,000,000 | Ksh 2,119,669 | 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 5 years would run about Ksh 107,123/month — saving Ksh 692,285 in interest. See the Citibank N.A. Kenya version →