Loan tools
Estimate monthly repayments, total interest and total loan cost before comparing offers from commercial banks, SACCOs or digital lenders.
The calculator uses standard reducing balance amortization. Actual lender quotes can vary based on risk pricing, processing charges, mandatory insurance, and excise duty. See repayments for common loan sizes in the loan repayment by amount table.
Always compare the Total Cost of Credit (TCC), processing fees, early settlement penalties, and insurance costs alongside the nominal annual percentage rate (APR).
Quick Answers
On a reducing balance loan, interest is calculated only on the remaining unpaid principal each month, reducing your total interest cost over time. On a flat rate loan, interest is calculated on the original total borrowed amount throughout the loan tenure, making it significantly more expensive.
Typical Kenyan bank personal loans include loan processing fees (usually 1.5% to 3%), credit life insurance (approx 0.5% - 1% annually), excise duty on bank fees (20%), and statutory stamp duty.
Guides
Flat rate vs reducing balance, a worked example of the true cost, and the fees to compare before signing.
GuideConvert gross salary to take-home pay in Kenya: every deduction, the order of calculation, and a worked example.
Calculators are for planning and estimation only. Verify final tax, payroll, loan, investment or property figures with the relevant institution or adviser.
Kenya Finance Calculator