Ksh 1,000,000 loan at Family Bank for 20 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 14,214. Total cost: Ksh 3,411,242 (Ksh 2,411,242 interest).
Monthly repayment
Ksh 14,214
At 16.40% · 240 payments
Total repayment
Ksh 3,411,242
3.41× the borrowed amount
Total interest
Ksh 2,411,242
Ksh 172,647 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 7,079 | Ksh 163,484 | Ksh 992,921 |
| Year 2 | Ksh 15,409 | Ksh 325,715 | Ksh 984,591 |
| Year 3 | Ksh 25,214 | Ksh 486,472 | Ksh 974,786 |
| Year 4 | Ksh 36,753 | Ksh 645,496 | Ksh 963,247 |
| Year 5 | Ksh 50,333 | Ksh 802,477 | Ksh 949,667 |
| Year 6 | Ksh 66,316 | Ksh 957,057 | Ksh 933,684 |
| Year 7 | Ksh 85,126 | Ksh 1,108,808 | Ksh 914,874 |
| Year 8 | Ksh 107,264 | Ksh 1,257,233 | Ksh 892,736 |
| Year 9 | Ksh 133,318 | Ksh 1,401,740 | Ksh 866,682 |
| Year 10 | Ksh 163,982 | Ksh 1,541,639 | Ksh 836,018 |
| Year 11 | Ksh 200,070 | Ksh 1,676,113 | Ksh 799,930 |
| Year 12 | Ksh 242,542 | Ksh 1,804,203 | Ksh 757,458 |
| Year 13 | Ksh 292,528 | Ksh 1,924,779 | Ksh 707,472 |
| Year 14 | Ksh 351,357 | Ksh 2,036,513 | Ksh 648,643 |
| Year 15 | Ksh 420,592 | Ksh 2,137,839 | Ksh 579,408 |
| Year 16 | Ksh 502,076 | Ksh 2,226,917 | Ksh 497,924 |
| Year 17 | Ksh 597,976 | Ksh 2,301,580 | Ksh 402,024 |
| Year 18 | Ksh 710,840 | Ksh 2,359,278 | Ksh 289,160 |
| Year 19 | Ksh 843,671 | Ksh 2,397,009 | Ksh 156,329 |
| Year 20 | Ksh 1,000,000 | Ksh 2,411,242 | 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 20 years would run about Ksh 9,890/month — saving Ksh 1,037,658 in interest. See the Citibank N.A. Kenya version →