Ksh 500,000 loan at Family Bank for 20 years.
At Family Bank's current lending rate of 16.40%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 7,107. Total cost: Ksh 1,705,620 (Ksh 1,205,621 interest).
Monthly repayment
Ksh 7,107
At 16.40% · 240 payments
Total repayment
Ksh 1,705,620
3.41× the borrowed amount
Total interest
Ksh 1,205,621
Ksh 86,324 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 3,539 | Ksh 81,742 | Ksh 496,461 |
| Year 2 | Ksh 7,705 | Ksh 162,857 | Ksh 492,295 |
| Year 3 | Ksh 12,607 | Ksh 243,236 | Ksh 487,393 |
| Year 4 | Ksh 18,376 | Ksh 322,748 | Ksh 481,624 |
| Year 5 | Ksh 25,167 | Ksh 401,239 | Ksh 474,833 |
| Year 6 | Ksh 33,158 | Ksh 478,528 | Ksh 466,842 |
| Year 7 | Ksh 42,563 | Ksh 554,404 | Ksh 457,437 |
| Year 8 | Ksh 53,632 | Ksh 628,616 | Ksh 446,368 |
| Year 9 | Ksh 66,659 | Ksh 700,870 | Ksh 433,341 |
| Year 10 | Ksh 81,991 | Ksh 770,820 | Ksh 418,009 |
| Year 11 | Ksh 100,035 | Ksh 838,057 | Ksh 399,965 |
| Year 12 | Ksh 121,271 | Ksh 902,102 | Ksh 378,729 |
| Year 13 | Ksh 146,264 | Ksh 962,390 | Ksh 353,736 |
| Year 14 | Ksh 175,678 | Ksh 1,018,256 | Ksh 324,322 |
| Year 15 | Ksh 210,296 | Ksh 1,068,920 | Ksh 289,704 |
| Year 16 | Ksh 251,038 | Ksh 1,113,459 | Ksh 248,962 |
| Year 17 | Ksh 298,988 | Ksh 1,150,790 | Ksh 201,012 |
| Year 18 | Ksh 355,420 | Ksh 1,179,639 | Ksh 144,580 |
| Year 19 | Ksh 421,835 | Ksh 1,198,505 | Ksh 78,165 |
| Year 20 | Ksh 500,000 | Ksh 1,205,621 | 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 20 years would run about Ksh 4,945/month — saving Ksh 518,829 in interest. See the Citibank N.A. Kenya version →