Ksh 500,000 loan at Family Bank for 3 years.
At Family Bank's current lending rate of 16.40%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 17,677. Total cost: Ksh 636,387 (Ksh 136,387 interest).
Monthly repayment
Ksh 17,677
At 16.40% · 36 payments
Total repayment
Ksh 636,387
1.27× the borrowed amount
Total interest
Ksh 136,387
Ksh 8,526 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 140,370 | Ksh 71,759 | Ksh 359,630 |
| Year 2 | Ksh 305,572 | Ksh 118,686 | Ksh 194,428 |
| Year 3 | Ksh 500,000 | Ksh 136,387 | 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 3 years would run about Ksh 16,218/month — saving Ksh 52,531 in interest. See the Citibank N.A. Kenya version →