Phone Financing Calculator Kenya
Find the true cost and effective APR of any lipa pole pole plan — or calculate your repayments from an interest rate.
| Financed Amount | — |
| Deposit | — |
| Total Installments | — |
| Total Paid (incl. deposit) | — |
| Extra Over Retail Price | — |
| Financed Amount | — |
| Number of Payments | — |
| Total Interest | — |
| Total Paid (incl. deposit) | — |
| Extra Over Retail Price | — |
Common Phone Financing Plans in Kenya
| Plan | Example | Effective APR* |
| M-KOPA | KES 50 – 100/day, 365+ days | ~100–180% |
| Lipa Mdogo Mdogo | KES 100–500/week | ~60–120% |
| In-shop credit | Flat "10–20% charge" per month | ~18–24% |
| SACCO/bank personal loan | 1–1.5%/month reducing | ~12–18% |
*Effective APR calculated using reducing balance method. Actual rates vary by lender.
How to Use This Calculator
I don't know the interest rate — how do I find the true cost?
Use the True Cost tab. Enter the cash price, deposit (if any), and exactly what the lender told you: how much per day/week/month and for how many payments. The calculator reveals the effective annual rate (APR) and total extra you pay over the retail price.
What is the difference between nominal APR and effective APR?
Nominal APR is the simple periodic rate multiplied by the number of periods in a year. Effective APR compounds this — it's the true annual cost. For daily-payment plans, the difference is significant. Effective APR is the more accurate cost measure.
What is the flat rate equivalent?
Flat rate is how some lenders describe their interest — calculated on the original loan amount for every period. It's easier to understand but makes loans look cheaper than they are. A 20% flat rate is roughly equivalent to 36–40% effective APR.
Is lipa pole pole financing worth it?
It depends on your alternatives. If you'd otherwise borrow at 365% from Fuliza, a phone financing plan at 80% APR is better. If you can access a SACCO or bank loan at 12–18%, buying outright is far cheaper. This calculator helps you compare the options numerically.