To create a simple loan repayment plan for Kes 25,000, I’ll walk you through a few repayment options depending on how often you want to repay (weekly or monthly), and your income level.
Option 1: Fixed Term Repayment Plans
- Monthly Plan (6 months)
Loan: Kes 25,000
Term: 6 months
Estimated interest: Let’s assume 10% total interest (Kes 2,500)
Total Repayment: Kes 27,500
Monthly Repayment: Kes 27,500 ÷ 6 = Kes 4,583
- Weekly Plan (12 weeks)
Loan: Kes 25,000
Term: 12 weeks
Interest: 10% (Kes 2,500)
Total Repayment: Kes 27,500
Weekly Repayment: Kes 27,500 ÷ 12 = Kes 2,292
Option 2: Based on Your Income
Let’s say your monthly income is Kes 15,000 and you can commit 30% of it to loan repayment:
30% of 15,000 = Kes 4,500 per month
Monthly repayment = Kes 4,500
You’ll repay Kes 27,500 in about 6.1 months
If your weekly income is Kes 3,500, and you commit 30% to repayment:
30% of 3,500 = Kes 1,050 per week
You’ll need ~27 weeks (Kes 27,500 ÷ 1,050)
Summary