Ksh 10,000,000 loan at Family Bank for 10 years.
At Family Bank's current lending rate of 16.40%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 170,014. Total cost: Ksh 20,401,723 (Ksh 10,401,723 interest).
Monthly repayment
Ksh 170,014
At 16.40% · 120 payments
Total repayment
Ksh 20,401,723
2.04× the borrowed amount
Total interest
Ksh 10,401,723
Ksh 716,919 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 431,665 | Ksh 1,608,507 | Ksh 9,568,335 |
| Year 2 | Ksh 939,695 | Ksh 3,140,650 | Ksh 9,060,305 |
| Year 3 | Ksh 1,537,598 | Ksh 4,582,918 | Ksh 8,462,402 |
| Year 4 | Ksh 2,241,275 | Ksh 5,919,414 | Ksh 7,758,725 |
| Year 5 | Ksh 3,069,436 | Ksh 7,131,425 | Ksh 6,930,564 |
| Year 6 | Ksh 4,044,105 | Ksh 8,196,929 | Ksh 5,955,895 |
| Year 7 | Ksh 5,191,199 | Ksh 9,090,007 | Ksh 4,808,801 |
| Year 8 | Ksh 6,541,221 | Ksh 9,780,157 | Ksh 3,458,779 |
| Year 9 | Ksh 8,130,072 | Ksh 10,231,479 | Ksh 1,869,928 |
| Year 10 | Ksh 10,000,000 | Ksh 10,401,723 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 4,303,448 in interest. See the Citibank N.A. Kenya version →