Ksh 500,000 loan at Family Bank for 25 years.
At Family Bank's current lending rate of 16.40%, a Ksh 500,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 6,952. Total cost: Ksh 2,085,537 (Ksh 1,585,536 interest).
Monthly repayment
Ksh 6,952
At 16.40% · 300 payments
Total repayment
Ksh 2,085,537
4.17× the borrowed amount
Total interest
Ksh 1,585,536
Ksh 112,941 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 1,533 | Ksh 81,888 | Ksh 498,467 |
| Year 2 | Ksh 3,338 | Ksh 163,505 | Ksh 496,662 |
| Year 3 | Ksh 5,462 | Ksh 244,803 | Ksh 494,538 |
| Year 4 | Ksh 7,961 | Ksh 325,725 | Ksh 492,039 |
| Year 5 | Ksh 10,903 | Ksh 406,204 | Ksh 489,097 |
| Year 6 | Ksh 14,365 | Ksh 486,164 | Ksh 485,635 |
| Year 7 | Ksh 18,439 | Ksh 565,511 | Ksh 481,561 |
| Year 8 | Ksh 23,235 | Ksh 644,137 | Ksh 476,765 |
| Year 9 | Ksh 28,879 | Ksh 721,914 | Ksh 471,121 |
| Year 10 | Ksh 35,521 | Ksh 798,694 | Ksh 464,479 |
| Year 11 | Ksh 43,338 | Ksh 874,298 | Ksh 456,662 |
| Year 12 | Ksh 52,538 | Ksh 948,519 | Ksh 447,462 |
| Year 13 | Ksh 63,365 | Ksh 1,021,113 | Ksh 436,635 |
| Year 14 | Ksh 76,109 | Ksh 1,091,792 | Ksh 423,891 |
| Year 15 | Ksh 91,106 | Ksh 1,160,216 | Ksh 408,894 |
| Year 16 | Ksh 108,756 | Ksh 1,225,987 | Ksh 391,244 |
| Year 17 | Ksh 129,529 | Ksh 1,288,635 | Ksh 370,471 |
| Year 18 | Ksh 153,977 | Ksh 1,347,608 | Ksh 346,023 |
| Year 19 | Ksh 182,750 | Ksh 1,402,257 | Ksh 317,250 |
| Year 20 | Ksh 216,613 | Ksh 1,451,815 | Ksh 283,387 |
| Year 21 | Ksh 256,467 | Ksh 1,495,383 | Ksh 243,533 |
| Year 22 | Ksh 303,371 | Ksh 1,531,901 | Ksh 196,629 |
| Year 23 | Ksh 358,573 | Ksh 1,560,120 | Ksh 141,427 |
| Year 24 | Ksh 423,540 | Ksh 1,578,575 | Ksh 76,460 |
| Year 25 | Ksh 500,000 | Ksh 1,585,536 | 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 25 years would run about Ksh 4,671/month — saving Ksh 684,235 in interest. See the Citibank N.A. Kenya version →