Ksh 1,000,000 loan at Family Bank for 25 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 13,904. Total cost: Ksh 4,171,071 (Ksh 3,171,072 interest).
Monthly repayment
Ksh 13,904
At 16.40% · 300 payments
Total repayment
Ksh 4,171,071
4.17× the borrowed amount
Total interest
Ksh 3,171,072
Ksh 225,883 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 3,067 | Ksh 163,776 | Ksh 996,933 |
| Year 2 | Ksh 6,676 | Ksh 327,010 | Ksh 993,324 |
| Year 3 | Ksh 10,923 | Ksh 489,605 | Ksh 989,077 |
| Year 4 | Ksh 15,922 | Ksh 651,449 | Ksh 984,078 |
| Year 5 | Ksh 21,806 | Ksh 812,409 | Ksh 978,194 |
| Year 6 | Ksh 28,730 | Ksh 972,327 | Ksh 971,270 |
| Year 7 | Ksh 36,879 | Ksh 1,131,021 | Ksh 963,121 |
| Year 8 | Ksh 46,470 | Ksh 1,288,273 | Ksh 953,530 |
| Year 9 | Ksh 57,757 | Ksh 1,443,829 | Ksh 942,243 |
| Year 10 | Ksh 71,041 | Ksh 1,597,387 | Ksh 928,959 |
| Year 11 | Ksh 86,676 | Ksh 1,748,596 | Ksh 913,324 |
| Year 12 | Ksh 105,076 | Ksh 1,897,039 | Ksh 894,924 |
| Year 13 | Ksh 126,731 | Ksh 2,042,227 | Ksh 873,269 |
| Year 14 | Ksh 152,217 | Ksh 2,183,583 | Ksh 847,783 |
| Year 15 | Ksh 182,212 | Ksh 2,320,431 | Ksh 817,788 |
| Year 16 | Ksh 217,513 | Ksh 2,451,973 | Ksh 782,487 |
| Year 17 | Ksh 259,059 | Ksh 2,577,270 | Ksh 740,941 |
| Year 18 | Ksh 307,955 | Ksh 2,695,217 | Ksh 692,045 |
| Year 19 | Ksh 365,501 | Ksh 2,804,514 | Ksh 634,499 |
| Year 20 | Ksh 433,227 | Ksh 2,903,631 | Ksh 566,773 |
| Year 21 | Ksh 512,934 | Ksh 2,990,766 | Ksh 487,066 |
| Year 22 | Ksh 606,742 | Ksh 3,063,801 | Ksh 393,258 |
| Year 23 | Ksh 717,145 | Ksh 3,120,241 | Ksh 282,855 |
| Year 24 | Ksh 847,079 | Ksh 3,157,150 | Ksh 152,921 |
| Year 25 | Ksh 1,000,000 | Ksh 3,171,072 | 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 25 years would run about Ksh 9,342/month — saving Ksh 1,368,470 in interest. See the Citibank N.A. Kenya version →