Ksh 10,000,000 loan at Family Bank for 2 years.
At Family Bank's current lending rate of 16.40%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 491,544. Total cost: Ksh 11,797,068 (Ksh 1,797,068 interest).
Monthly repayment
Ksh 491,544
At 16.40% · 24 payments
Total repayment
Ksh 11,797,068
1.18× the borrowed amount
Total interest
Ksh 1,797,068
Ksh 110,038 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 4,593,674 | Ksh 1,304,860 | Ksh 5,406,326 |
| Year 2 | Ksh 10,000,000 | Ksh 1,797,068 | 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 2 years would run about Ksh 463,113/month — saving Ksh 682,365 in interest. See the Citibank N.A. Kenya version →