Ksh 10,000,000 loan at Family Bank for 3 years.
At Family Bank's current lending rate of 16.40%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 353,548. Total cost: Ksh 12,727,740 (Ksh 2,727,740 interest).
Monthly repayment
Ksh 353,548
At 16.40% · 36 payments
Total repayment
Ksh 12,727,740
1.27× the borrowed amount
Total interest
Ksh 2,727,740
Ksh 170,513 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 2,807,399 | Ksh 1,435,181 | Ksh 7,192,601 |
| Year 2 | Ksh 6,111,446 | Ksh 2,373,714 | Ksh 3,888,554 |
| Year 3 | Ksh 10,000,000 | Ksh 2,727,740 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,050,611 in interest. See the Citibank N.A. Kenya version →