This free loan calculator Kenya borrowers can use in seconds shows exactly what a personal, SACCO or bank loan will cost you. Enter the amount, the interest rate and the repayment period below, and the loan calculator instantly works out your monthly payment, the total interest, and the full amount you will repay. It is the simplest way to check whether a loan fits your budget before you sign anything.

Loan Repayment Calculator (Kenya)

Work out the monthly payment and true cost of a personal, SACCO or bank loan before you sign.

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Note: This uses the reducing-balance method most Kenyan banks and SACCOs apply. Some lenders quote a flat rate, which works out more expensive for the same headline number, so always ask which method is used and check the APR. Figures here exclude insurance and any lender charges not entered above.

How to use this loan calculator

Start by entering the loan amount you want to borrow. Add the annual interest rate your lender has quoted, then set the repayment period in months or years. The loan calculator updates instantly, so you can test a shorter term or a smaller amount and watch the monthly payment and total interest change. If your lender charges one-off fees, add them so the total cost is realistic.

A worked KSh example

Say you borrow KSh 300,000 at 18% a year over 24 months. The loan calculator shows a monthly payment of about KSh 14,977 and roughly KSh 59,000 in total interest, on top of the KSh 300,000 you borrowed. Seeing that interest figure up front helps you decide whether the loan is worth it, or whether saving a little longer would be cheaper.

Flat rate versus reducing balance

This loan calculator uses the reducing-balance method, where interest is charged only on what you still owe, which is what most Kenyan banks and SACCOs use. Watch out for lenders who quote a flat rate: it looks cheaper but usually costs more for the same headline number, because interest is charged on the full amount for the whole term. Always ask which method applies and check the APR before you commit. You can also track the cost of borrowing through the Central Bank of Kenya.

Why check a loan before you borrow

A loan is easy to take and hard to escape, so it pays to know the real cost first. A loan calculator Kenya savers can rely on turns a vague monthly worry into a firm number you can plan around, and shows how much a lower rate or a shorter term would save you. If you are borrowing to buy a home, our mortgage calculator is a better fit, and if you are comparing a bank loan with a SACCO, read our mortgage vs SACCO loan guide and our roundup of the best SACCOs in Kenya. It also helps to keep repayments inside a sensible budget, which our 50/30/20 budget guide explains.

Loan calculator Kenya showing monthly repayment on a phone
Frequently asked questions

Is this loan calculator accurate?

It uses the reducing-balance formula most Kenyan lenders apply, so the monthly payment is a reliable estimate. It excludes insurance and any charges you do not enter, and if your lender uses a flat rate the real cost will differ, so always confirm the terms.

What interest rate should I use?

Enter the annual rate your lender has quoted. Personal and SACCO loan rates in Kenya vary widely, so if you are only estimating, use a figure in the range your lender has mentioned and confirm the exact rate before borrowing.

Does a longer term make a loan cheaper?

A longer term lowers the monthly payment but increases the total interest you pay, because you borrow for longer. Use the loan calculator to find a term that keeps the monthly amount affordable without paying far more overall.

Before you apply for a loan, know where you stand: see how to check your credit score in Kenya.

Disclaimer: This loan calculator is for educational and informational purposes only and does not constitute financial advice. Results are estimates based on the figures you enter and exclude fees and insurance. Kenyan loan rates and terms differ by lender. Always confirm current terms with your lender and consider consulting a licensed financial advisor before borrowing.