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LOAN CALCULATOR KENYA

Loan Details

Monthly Payment
34,178 /=
Total Payment
1,230,395 /=

AMORTIZATION SCHEDULE

# Date Interest (KShs.) Principal (KShs.) Balance (KShs.) Total Interest Total Payments
1 Mar,2024 11,667 22,511 977,489 11,667 22,511
2 Apr, 2024 11,404 22,774 954,715 23,071 45,285
3 May, 2024 11,138 23,039 931,676 34,209 68,324
4 Jun, 2024 10,870 23,308 908,368 45,079 91,632
5 Jul, 2024 10,598 23,580 884,788 55,676 115,212
6 Aug, 2024 10,323 23,855 860,933 65,999 139,067
7 Sep, 2024 10,044 24,133 836,800 76,043 163,200
8 Oct, 2024 9,763 24,415 812,385 85,806 187,615
9 Nov, 2024 9,478 24,700 787,685 95,283 212,315
10 Dec, 2024 9,190 24,988 762,697 104,473 237,303
11 Jan, 2025 8,898 25,280 737,417 113,371 262,583
12 Feb, 2025 8,603 25,574 711,843 121,974 288,157
13 Mar, 2025 8,305 25,873 685,970 130,279 314,030
14 Apr, 2025 8,003 26,175 659,795 138,282 340,205
15 May, 2025 7,698 26,480 633,315 145,980 366,685
16 Jun, 2025 7,389 26,789 606,526 153,369 393,474
17 Jul, 2025 7,076 27,101 579,425 160,445 420,575
18 Aug, 2025 6,760 27,418 552,007 167,205 447,993
19 Sep, 2025 6,440 27,738 524,270 173,645 475,730
20 Oct, 2025 6,116 28,061 496,209 179,761 503,791
21 Nov, 2025 5,789 28,389 467,820 185,550 532,180
22 Dec, 2025 5,458 28,720 439,100 191,008 560,900
23 Jan, 2026 5,123 29,055 410,046 196,131 589,954
24 Feb, 2026 4,784 29,394 380,652 200,915 619,348
25 Mar, 2026 4,441 29,737 350,915 205,356 649,085
26 Apr, 2026 4,094 30,084 320,832 209,450 679,169
27 May, 2026 3,743 30,435 290,397 213,193 709,603
28 Jun, 2026 3,388 30,790 259,607 216,581 740,393
29 Jul, 2026 3,029 31,149 228,458 219,610 771,542
30 Aug, 2026 2,665 31,512 196,946 222,275 803,054
31 Sep, 2026 2,298 31,880 165,066 224,573 834,934
32 Oct, 2026 1,926 32,252 132,814 226,498 867,186
33 Nov, 2026 1,550 32,628 100,186 228,048 899,814
34 Dec, 2026 1,169 33,009 67,177 229,217 932,823
35 Jan, 2027 784 33,394 33,783 230,001 966,217
36 Feb, 2027 394 33,783 -0 230,395 1,000,000
View All

FAQ's

  What is a reducing balance loan?

This is the type of where the borrower pays interest on the remaining balance of the loan. So, as the borrower pays the loan, the interest amount reduces.

This is different from the flat interest type of loans where the borrower pays a flat interest on the total loan amount from start to end of the borrowing period.

In Kenya, most loans are reducing balance type loans, check the loan calculator that you are using to confirm that the formula takes this into account.

  How are loans priced in Kenya?

Historically, the interest rates on loans have been set by lenders (commercial banks and microfinances). The more risky borrowers were charged interest rates up to 30% per annum. Effective 14th September 2016, all interest rates charged on loans are capped at a maximum of 4% above the Central Bank Rate (CBR).

  Can I negotiate my interest rates?

Yes, it is very possible and advisable to negotiate the interest rate that you are charged by the lending bank. You can reduce your interest rate by proving that you are in financial good standing, a strong report from Credit Reference Bureau, financial collateral. The less risky your borrower profile is, the lower the interest you will be charged. Using a loan calculator from different banks and financial institution can help you to understand the different offers available to you from the market.

  What do I do if am not able to pay?

If you find yourself in the situation that you are not able to keep up with your loan repayments, the first thing and most important thing is to make contact with your bank and have meeting with your relationship manager. Explain your circumstances, some banks offer their clientele financial advice and support during these situations.

It is also advisable to contact other banks and see if you can do a balance transfer. Another bank can take up your loan balance and give you some grace period before resuming your loan repayments.

  What are mobile loans?

These are loans that are issued through the client’s mobile phone, received in the mobile money balance.

Traditionally, these loans were charged at 5-15% interest per week but have now been capped to 4% above the CBR. Loan calculators may not be used to price the interest on these loans as they include a whole host of other charges and facilitation fees.

Note: Loans issued by microfinance institutions are not subject to the interest rates cap so they may be priced much higher than bank loans.


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