Ksh 1,000,000 loan at Family Bank for 3 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 35,355. Total cost: Ksh 1,272,774 (Ksh 272,774 interest).
Monthly repayment
Ksh 35,355
At 16.40% · 36 payments
Total repayment
Ksh 1,272,774
1.27× the borrowed amount
Total interest
Ksh 272,774
Ksh 17,051 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 280,740 | Ksh 143,518 | Ksh 719,260 |
| Year 2 | Ksh 611,145 | Ksh 237,371 | Ksh 388,855 |
| Year 3 | Ksh 1,000,000 | Ksh 272,774 | 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 3 years would run about Ksh 32,436/month — saving Ksh 105,061 in interest. See the Citibank N.A. Kenya version →