Ksh 2,000,000 loan at Family Bank for 2 years.
At Family Bank's current lending rate of 16.40%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 98,309. Total cost: Ksh 2,359,414 (Ksh 359,414 interest).
Monthly repayment
Ksh 98,309
At 16.40% · 24 payments
Total repayment
Ksh 2,359,414
1.18× the borrowed amount
Total interest
Ksh 359,414
Ksh 22,008 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 918,735 | Ksh 260,972 | Ksh 1,081,265 |
| Year 2 | Ksh 2,000,000 | Ksh 359,414 | 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 2 years would run about Ksh 92,623/month — saving Ksh 136,473 in interest. See the Citibank N.A. Kenya version →