Ksh 2,000,000 loan at Family Bank for 15 years.
At Family Bank's current lending rate of 16.40%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 29,934. Total cost: Ksh 5,388,061 (Ksh 3,388,061 interest).
Monthly repayment
Ksh 29,934
At 16.40% · 180 payments
Total repayment
Ksh 5,388,061
2.69× the borrowed amount
Total interest
Ksh 3,388,061
Ksh 240,617 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 33,660 | Ksh 325,544 | Ksh 1,966,340 |
| Year 2 | Ksh 73,274 | Ksh 645,134 | Ksh 1,926,726 |
| Year 3 | Ksh 119,897 | Ksh 957,716 | Ksh 1,880,103 |
| Year 4 | Ksh 174,767 | Ksh 1,262,049 | Ksh 1,825,233 |
| Year 5 | Ksh 239,344 | Ksh 1,556,676 | Ksh 1,760,656 |
| Year 6 | Ksh 315,346 | Ksh 1,839,879 | Ksh 1,684,654 |
| Year 7 | Ksh 404,792 | Ksh 2,109,636 | Ksh 1,595,208 |
| Year 8 | Ksh 510,062 | Ksh 2,363,570 | Ksh 1,489,938 |
| Year 9 | Ksh 633,956 | Ksh 2,598,881 | Ksh 1,366,044 |
| Year 10 | Ksh 779,766 | Ksh 2,812,275 | Ksh 1,220,234 |
| Year 11 | Ksh 951,372 | Ksh 2,999,873 | Ksh 1,048,628 |
| Year 12 | Ksh 1,153,336 | Ksh 3,157,113 | Ksh 846,664 |
| Year 13 | Ksh 1,391,028 | Ksh 3,278,625 | Ksh 608,972 |
| Year 14 | Ksh 1,670,770 | Ksh 3,358,087 | Ksh 329,230 |
| Year 15 | Ksh 2,000,000 | Ksh 3,388,061 | 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 2,000,000 loan over 15 years would run about Ksh 21,935/month — saving Ksh 1,439,813 in interest. See the Citibank N.A. Kenya version →