Ksh 1,000,000 loan at Family Bank for 2 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 49,154. Total cost: Ksh 1,179,707 (Ksh 179,707 interest).
Monthly repayment
Ksh 49,154
At 16.40% · 24 payments
Total repayment
Ksh 1,179,707
1.18× the borrowed amount
Total interest
Ksh 179,707
Ksh 11,004 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 459,367 | Ksh 130,486 | Ksh 540,633 |
| Year 2 | Ksh 1,000,000 | Ksh 179,707 | 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 2 years would run about Ksh 46,311/month — saving Ksh 68,237 in interest. See the Citibank N.A. Kenya version →