Work out your monthly payments, total interest, and full amortization schedule for any loan in Kenya — bank loan, SACCO, mortgage, car, or personal. All calculations are in Kenyan Shillings.
Adjust any field and the results update instantly.
See how your payments break down month-by-month.
| Month | Date | Payment | Principal | Interest | Balance |
|---|
Almost all Kenyan banks and SACCOs use the reducing-balance method for loans. This calculator does too. Each month, interest is charged on whatever you still owe — so as you pay down the principal, the interest portion shrinks and more of your payment goes to the principal.
The formula at work behind this calculator is the standard amortization formula:
Monthly payment = P × (r × (1+r)n) ÷ ((1+r)n − 1)
Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments.
You take a KSh 1,000,000 working-capital loan from a commercial bank at 16% per year over 4 years.
You borrow KSh 500,000 from your SACCO at 12% over 3 years.
To keep it simple, this tool calculates pure loan interest. It doesn't account for:
Always ask your lender for the full effective cost of the loan, often expressed as APR, before signing.
Kenyan banks typically use reducing-balance interest, where interest is calculated on the outstanding loan balance each month. As you pay down the principal, less interest is charged. This calculator uses the standard amortization formula to compute equal monthly payments, splitting each payment between interest (on remaining balance) and principal.
As of 2026, commercial bank loan rates in Kenya typically range from 13% to 18% per year, depending on the bank, loan type, and your credit profile. SACCO loans are usually cheaper at 12% to 14%. Mobile loans like Fuliza or KCB M-Pesa carry much higher effective rates when annualized, sometimes above 100% APR.
Three ways: make extra payments each month to reduce the principal faster; choose a shorter loan term where possible; negotiate a lower rate with your lender, especially if you have a good repayment history. Use the early-payoff modeling above to see exactly how much you'd save.
Yes. The calculator works for any loan that uses the standard reducing-balance method, which is what KCB, Equity, Co-op, NCBA, Stanbic, Absa, and most Kenyan SACCOs use. Enter your loan amount, the rate quoted by your lender, and the term.
Yes. The math is the same for any reducing-balance loan — mortgages, car loans, business loans, and personal loans all work. Just enter the figures from your offer letter. Note that Kenyan mortgage rates currently range from about 12.5% to 16%, while car loans are usually 13% to 17%.
This is normal for amortizing loans. Interest is calculated on the outstanding balance, which is largest at the start. As you pay down the principal, the interest portion shrinks and more of each payment goes to principal. The amortization schedule above shows this breakdown for every single month of your loan.
Completely free. No signup, no email gate, no ads. We make our money by selling more advanced Excel templates for Kenyan businesses — chama trackers, payroll tools, rental income managers. If a calculator helps you, please share the link with anyone you think it might also help.
We build full Excel templates for Kenyan businesses and households — chama tracking with member statements, KRA-compliant payroll with payslips, rental income management with automatic MRI calculation, and more. One-time purchase, instant download, M-Pesa payment.
Browse templates →