Boda Boda Loan Calculator Kenya
Find the true cost and effective APR of any boda boda financing plan — daily, weekly, or monthly payments. Or calculate your repayments from a given interest rate.
| Financed Amount | — |
| Deposit | — |
| Total Installments | — |
| Total Paid (incl. deposit) | — |
| Extra Over Bike Price | — |
| Financed Amount | — |
| Number of Payments | — |
| Total Interest | — |
| Total Paid (incl. deposit) | — |
| Extra Over Bike Price | — |
Typical Boda Boda Financing in Kenya
| Source | Typical Terms | Effective APR* |
| In-shop (dealer credit) | KES 600–800/day × 200–300 days | ~40–90% |
| SACCO loan | Monthly reducing balance, 12–36 months | ~12–18% |
| Microfinance (MFI) | Weekly/monthly, flat rate | ~30–60% |
| Bank personal loan | Monthly reducing balance, 12–48 months | ~13–20% |
*Effective APR (reducing balance). Actual rates vary. Dealer credit is often presented without a rate — use the True Cost tab to find the actual APR.
How to Use This Calculator
The dealer told me to pay KES 700/day for 240 days. How do I find the APR?
Use the True Cost tab. Enter the bike's cash price (e.g. KES 120,000), any deposit paid, select Daily frequency, enter KES 700 as the installment, and 240 as the number of payments. The calculator will show your effective APR and exactly how much extra you pay over the retail price.
What is a fair interest rate for a boda boda loan?
SACCO loans at 12–18% p.a. are the best deal available to most riders. Bank personal loans are 13–20%. Dealer credit is usually 40–90% effective APR. If you can access a SACCO loan to buy the bike outright, it will almost always be cheaper than dealer financing — even after accounting for the time to build SACCO shares.
How does daily payment work with interest?
Most dealer financing uses a simple total — they calculate the bike price plus a fixed markup and divide by the number of days. This is essentially a flat rate. Our calculator converts this to an effective APR (reducing balance equivalent) so you can compare it fairly with bank or SACCO loans.
Can I use this for tuk-tuks, three-wheelers, or cargo bikes?
Yes. The calculator works for any asset financed with installment payments regardless of the payment frequency. Just enter the correct price and payment amounts.