Ksh 2,000,000 loan at Family Bank for 3 years.
At Family Bank's current lending rate of 16.40%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 70,710. Total cost: Ksh 2,545,548 (Ksh 545,548 interest).
Monthly repayment
Ksh 70,710
At 16.40% · 36 payments
Total repayment
Ksh 2,545,548
1.27× the borrowed amount
Total interest
Ksh 545,548
Ksh 34,103 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 561,480 | Ksh 287,036 | Ksh 1,438,520 |
| Year 2 | Ksh 1,222,289 | Ksh 474,743 | Ksh 777,711 |
| Year 3 | Ksh 2,000,000 | Ksh 545,548 | 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 3 years would run about Ksh 64,873/month — saving Ksh 210,122 in interest. See the Citibank N.A. Kenya version →