Ksh 1,000,000 loan at Family Bank for 10 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 17,001. Total cost: Ksh 2,040,173 (Ksh 1,040,172 interest).
Monthly repayment
Ksh 17,001
At 16.40% · 120 payments
Total repayment
Ksh 2,040,173
2.04× the borrowed amount
Total interest
Ksh 1,040,172
Ksh 71,692 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 43,167 | Ksh 160,851 | Ksh 956,833 |
| Year 2 | Ksh 93,969 | Ksh 314,065 | Ksh 906,031 |
| Year 3 | Ksh 153,760 | Ksh 458,292 | Ksh 846,240 |
| Year 4 | Ksh 224,127 | Ksh 591,941 | Ksh 775,873 |
| Year 5 | Ksh 306,944 | Ksh 713,143 | Ksh 693,056 |
| Year 6 | Ksh 404,411 | Ksh 819,693 | Ksh 595,590 |
| Year 7 | Ksh 519,120 | Ksh 909,001 | Ksh 480,880 |
| Year 8 | Ksh 654,122 | Ksh 978,016 | Ksh 345,878 |
| Year 9 | Ksh 813,007 | Ksh 1,023,148 | Ksh 186,993 |
| Year 10 | Ksh 1,000,000 | Ksh 1,040,172 | 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 10 years would run about Ksh 13,415/month — saving Ksh 430,345 in interest. See the Citibank N.A. Kenya version →