Ksh 500,000 loan at Family Bank for 15 years.
At Family Bank's current lending rate of 16.40%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 7,483. Total cost: Ksh 1,347,016 (Ksh 847,015 interest).
Monthly repayment
Ksh 7,483
At 16.40% · 180 payments
Total repayment
Ksh 1,347,016
2.69× the borrowed amount
Total interest
Ksh 847,015
Ksh 60,154 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 8,415 | Ksh 81,386 | Ksh 491,585 |
| Year 2 | Ksh 18,319 | Ksh 161,283 | Ksh 481,681 |
| Year 3 | Ksh 29,974 | Ksh 239,429 | Ksh 470,026 |
| Year 4 | Ksh 43,692 | Ksh 315,512 | Ksh 456,308 |
| Year 5 | Ksh 59,836 | Ksh 389,169 | Ksh 440,164 |
| Year 6 | Ksh 78,836 | Ksh 459,970 | Ksh 421,164 |
| Year 7 | Ksh 101,198 | Ksh 527,409 | Ksh 398,802 |
| Year 8 | Ksh 127,516 | Ksh 590,893 | Ksh 372,484 |
| Year 9 | Ksh 158,489 | Ksh 649,720 | Ksh 341,511 |
| Year 10 | Ksh 194,942 | Ksh 703,069 | Ksh 305,058 |
| Year 11 | Ksh 237,843 | Ksh 749,968 | Ksh 262,157 |
| Year 12 | Ksh 288,334 | Ksh 789,278 | Ksh 211,666 |
| Year 13 | Ksh 347,757 | Ksh 819,656 | Ksh 152,243 |
| Year 14 | Ksh 417,693 | Ksh 839,522 | Ksh 82,308 |
| Year 15 | Ksh 500,000 | Ksh 847,015 | 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 15 years would run about Ksh 5,484/month — saving Ksh 359,953 in interest. See the Citibank N.A. Kenya version →