Ksh 1,000,000 loan at Family Bank for 15 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 14,967. Total cost: Ksh 2,694,031 (Ksh 1,694,031 interest).
Monthly repayment
Ksh 14,967
At 16.40% · 180 payments
Total repayment
Ksh 2,694,031
2.69× the borrowed amount
Total interest
Ksh 1,694,031
Ksh 120,309 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 16,830 | Ksh 162,772 | Ksh 983,170 |
| Year 2 | Ksh 36,637 | Ksh 322,567 | Ksh 963,363 |
| Year 3 | Ksh 59,948 | Ksh 478,858 | Ksh 940,052 |
| Year 4 | Ksh 87,384 | Ksh 631,025 | Ksh 912,616 |
| Year 5 | Ksh 119,672 | Ksh 778,338 | Ksh 880,328 |
| Year 6 | Ksh 157,673 | Ksh 919,939 | Ksh 842,327 |
| Year 7 | Ksh 202,396 | Ksh 1,054,818 | Ksh 797,604 |
| Year 8 | Ksh 255,031 | Ksh 1,181,785 | Ksh 744,969 |
| Year 9 | Ksh 316,978 | Ksh 1,299,441 | Ksh 683,022 |
| Year 10 | Ksh 389,883 | Ksh 1,406,137 | Ksh 610,117 |
| Year 11 | Ksh 475,686 | Ksh 1,499,937 | Ksh 524,314 |
| Year 12 | Ksh 576,668 | Ksh 1,578,557 | Ksh 423,332 |
| Year 13 | Ksh 695,514 | Ksh 1,639,312 | Ksh 304,486 |
| Year 14 | Ksh 835,385 | Ksh 1,679,044 | Ksh 164,615 |
| Year 15 | Ksh 1,000,000 | Ksh 1,694,031 | 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 15 years would run about Ksh 10,967/month — saving Ksh 719,907 in interest. See the Citibank N.A. Kenya version →