Ksh 500,000 loan at Family Bank for 10 years.
At Family Bank's current lending rate of 16.40%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,501. Total cost: Ksh 1,020,086 (Ksh 520,086 interest).
Monthly repayment
Ksh 8,501
At 16.40% · 120 payments
Total repayment
Ksh 1,020,086
2.04× the borrowed amount
Total interest
Ksh 520,086
Ksh 35,846 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 21,583 | Ksh 80,425 | Ksh 478,417 |
| Year 2 | Ksh 46,985 | Ksh 157,032 | Ksh 453,015 |
| Year 3 | Ksh 76,880 | Ksh 229,146 | Ksh 423,120 |
| Year 4 | Ksh 112,064 | Ksh 295,971 | Ksh 387,936 |
| Year 5 | Ksh 153,472 | Ksh 356,571 | Ksh 346,528 |
| Year 6 | Ksh 202,205 | Ksh 409,846 | Ksh 297,795 |
| Year 7 | Ksh 259,560 | Ksh 454,500 | Ksh 240,440 |
| Year 8 | Ksh 327,061 | Ksh 489,008 | Ksh 172,939 |
| Year 9 | Ksh 406,504 | Ksh 511,574 | Ksh 93,496 |
| Year 10 | Ksh 500,000 | Ksh 520,086 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 215,172 in interest. See the Citibank N.A. Kenya version →