Ksh 2,000,000 loan at Family Bank for 20 years.
At Family Bank's current lending rate of 16.40%, a Ksh 2,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 28,427. Total cost: Ksh 6,822,485 (Ksh 4,822,484 interest).
Monthly repayment
Ksh 28,427
At 16.40% · 240 payments
Total repayment
Ksh 6,822,485
3.41× the borrowed amount
Total interest
Ksh 4,822,484
Ksh 345,295 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 14,157 | Ksh 326,967 | Ksh 1,985,843 |
| Year 2 | Ksh 30,819 | Ksh 651,430 | Ksh 1,969,181 |
| Year 3 | Ksh 50,428 | Ksh 972,945 | Ksh 1,949,572 |
| Year 4 | Ksh 73,506 | Ksh 1,290,991 | Ksh 1,926,494 |
| Year 5 | Ksh 100,666 | Ksh 1,604,955 | Ksh 1,899,334 |
| Year 6 | Ksh 132,632 | Ksh 1,914,113 | Ksh 1,867,368 |
| Year 7 | Ksh 170,253 | Ksh 2,217,617 | Ksh 1,829,747 |
| Year 8 | Ksh 214,528 | Ksh 2,514,465 | Ksh 1,785,472 |
| Year 9 | Ksh 266,637 | Ksh 2,803,481 | Ksh 1,733,363 |
| Year 10 | Ksh 327,964 | Ksh 3,083,278 | Ksh 1,672,036 |
| Year 11 | Ksh 400,140 | Ksh 3,352,226 | Ksh 1,599,860 |
| Year 12 | Ksh 485,084 | Ksh 3,608,406 | Ksh 1,514,916 |
| Year 13 | Ksh 585,056 | Ksh 3,849,559 | Ksh 1,414,944 |
| Year 14 | Ksh 702,713 | Ksh 4,073,026 | Ksh 1,297,287 |
| Year 15 | Ksh 841,185 | Ksh 4,275,678 | Ksh 1,158,815 |
| Year 16 | Ksh 1,004,153 | Ksh 4,453,834 | Ksh 995,847 |
| Year 17 | Ksh 1,195,951 | Ksh 4,603,160 | Ksh 804,049 |
| Year 18 | Ksh 1,421,680 | Ksh 4,718,556 | Ksh 578,320 |
| Year 19 | Ksh 1,687,341 | Ksh 4,794,019 | Ksh 312,659 |
| Year 20 | Ksh 2,000,000 | Ksh 4,822,484 | 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 20 years would run about Ksh 19,780/month — saving Ksh 2,075,315 in interest. See the Citibank N.A. Kenya version →