Ksh 10,000,000 loan at Family Bank for 15 years.
At Family Bank's current lending rate of 16.40%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 149,668. Total cost: Ksh 26,940,307 (Ksh 16,940,307 interest).
Monthly repayment
Ksh 149,668
At 16.40% · 180 payments
Total repayment
Ksh 26,940,307
2.69× the borrowed amount
Total interest
Ksh 16,940,307
Ksh 1,203,087 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 168,299 | Ksh 1,627,721 | Ksh 9,831,701 |
| Year 2 | Ksh 366,371 | Ksh 3,225,670 | Ksh 9,633,629 |
| Year 3 | Ksh 599,484 | Ksh 4,788,578 | Ksh 9,400,516 |
| Year 4 | Ksh 873,835 | Ksh 6,310,246 | Ksh 9,126,165 |
| Year 5 | Ksh 1,196,722 | Ksh 7,783,381 | Ksh 8,803,278 |
| Year 6 | Ksh 1,576,729 | Ksh 9,199,394 | Ksh 8,423,271 |
| Year 7 | Ksh 2,023,961 | Ksh 10,548,182 | Ksh 7,976,039 |
| Year 8 | Ksh 2,550,312 | Ksh 11,817,851 | Ksh 7,449,688 |
| Year 9 | Ksh 3,169,778 | Ksh 12,994,406 | Ksh 6,830,222 |
| Year 10 | Ksh 3,898,832 | Ksh 14,061,373 | Ksh 6,101,168 |
| Year 11 | Ksh 4,756,860 | Ksh 14,999,365 | Ksh 5,243,140 |
| Year 12 | Ksh 5,766,679 | Ksh 15,785,567 | Ksh 4,233,321 |
| Year 13 | Ksh 6,955,141 | Ksh 16,393,125 | Ksh 3,044,859 |
| Year 14 | Ksh 8,353,850 | Ksh 16,790,436 | Ksh 1,646,150 |
| Year 15 | Ksh 10,000,000 | Ksh 16,940,307 | 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 15 years would run about Ksh 109,674/month — saving Ksh 7,199,067 in interest. See the Citibank N.A. Kenya version →