Ksh 500,000 loan at Family Bank for 2 years.
At Family Bank's current lending rate of 16.40%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,577. Total cost: Ksh 589,853 (Ksh 89,853 interest).
Monthly repayment
Ksh 24,577
At 16.40% · 24 payments
Total repayment
Ksh 589,853
1.18× the borrowed amount
Total interest
Ksh 89,853
Ksh 5,502 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 229,684 | Ksh 65,243 | Ksh 270,316 |
| Year 2 | Ksh 500,000 | Ksh 89,853 | 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 2 years would run about Ksh 23,156/month — saving Ksh 34,118 in interest. See the Citibank N.A. Kenya version →