Free tool
See what a loan costs, or what savings earn.
Type the amount, the yearly rate and the time. We show the monthly payment, the interest and the total.
Your answer
Example numbers. Change the boxes to use yours.
You pay about Ksh 9,333 each month.
What makes up the answer
- The money you borrow: Ksh 100,000 (89%)
- The interest: Ksh 12,000 (11%)
The bar shows each part. The words under it give the numbers.
- The money you borrow
- Ksh 100,000
- The interest
- Ksh 12,000
- In all, you pay back
- Ksh 112,000
How we worked this out
Here are the steps, one by one.
Step 1
You told us:
How much do you borrow? KES 100,000 What is the interest for one year? 12 % How many months will you pay? 12 months
Step 2
Total interest: 12,000
The interest for one year, times the years.
Step 3
Total to pay back: 112,000
The loan plus the interest.
Step 4
Your answer:
You pay about Ksh 9,333 each month.
This is only a guide. Your lender may work it out in a different way.
Your answer
Example numbers. Change the boxes to use yours.
You earn Ksh 12,000 in interest.
- What you start with
- Ksh 50,000
- What you have at the end
- Ksh 62,000
How we worked this out
Here are the steps, one by one.
Step 1
You told us:
How much money do you start with? KES 50,000 What is the interest for one year? 8 % For how many years? 3 years
Step 2
Interest earned: 12,000
Money, times the yearly rate, times the years.
Step 3
Your answer:
You earn Ksh 12,000 in interest.
This is only a guide. Banks may add the interest in a different way.
Both tools use simple interest. Banks and lenders may work it out in a different way, so use the answer as a guide and check your loan papers.
Questions
What kind of interest do these use?
Simple interest. It is worked out on the starting amount and is not added back each year.
Will my bank show the same number?
It may not. Banks can add interest in a different way, so check your loan papers.
Plan your cash with the whole picture.
Start free with invoices and simple sales. Owed balances across customers are on Basic.