Ksh 1,000,000 loan at Family Bank for 1 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 90,920. Total cost: Ksh 1,091,043 (Ksh 91,043 interest).
Monthly repayment
Ksh 90,920
At 16.40% · 12 payments
Total repayment
Ksh 1,091,043
1.09× the borrowed amount
Total interest
Ksh 91,043
Ksh 5,450 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 1,000,000 | Ksh 91,043 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 1,000,000 loan over 1 years would run about Ksh 88,083/month — saving Ksh 34,042 in interest. See the Citibank N.A. Kenya version →