Ksh 1,000,000 loan at Family Bank for 5 years.
At Family Bank's current lending rate of 16.40%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 24,531. Total cost: Ksh 1,471,866 (Ksh 471,866 interest).
Monthly repayment
Ksh 24,531
At 16.40% · 60 payments
Total repayment
Ksh 1,471,866
1.47× the borrowed amount
Total interest
Ksh 471,866
Ksh 30,575 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 140,633 | Ksh 153,740 | Ksh 859,367 |
| Year 2 | Ksh 306,146 | Ksh 282,601 | Ksh 693,854 |
| Year 3 | Ksh 500,938 | Ksh 382,181 | Ksh 499,062 |
| Year 4 | Ksh 730,191 | Ksh 447,302 | Ksh 269,809 |
| Year 5 | Ksh 1,000,000 | Ksh 471,866 | 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 5 years would run about Ksh 21,425/month — saving Ksh 186,389 in interest. See the Citibank N.A. Kenya version →