Ksh 2,000,000 loan at Family Bank for 5 years.
At Family Bank's current lending rate of 16.40%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 49,062. Total cost: Ksh 2,943,732 (Ksh 943,732 interest).
Monthly repayment
Ksh 49,062
At 16.40% · 60 payments
Total repayment
Ksh 2,943,732
1.47× the borrowed amount
Total interest
Ksh 943,732
Ksh 61,150 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 281,267 | Ksh 307,480 | Ksh 1,718,733 |
| Year 2 | Ksh 612,292 | Ksh 565,201 | Ksh 1,387,708 |
| Year 3 | Ksh 1,001,877 | Ksh 764,363 | Ksh 998,123 |
| Year 4 | Ksh 1,460,382 | Ksh 894,604 | Ksh 539,618 |
| Year 5 | Ksh 2,000,000 | Ksh 943,732 | 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 5 years would run about Ksh 42,849/month — saving Ksh 372,779 in interest. See the Citibank N.A. Kenya version →