Ksh 500,000 loan at Family Bank for 5 years.
At Family Bank's current lending rate of 16.40%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 12,266. Total cost: Ksh 735,933 (Ksh 235,933 interest).
Monthly repayment
Ksh 12,266
At 16.40% · 60 payments
Total repayment
Ksh 735,933
1.47× the borrowed amount
Total interest
Ksh 235,933
Ksh 15,288 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 70,317 | Ksh 76,870 | Ksh 429,683 |
| Year 2 | Ksh 153,073 | Ksh 141,300 | Ksh 346,927 |
| Year 3 | Ksh 250,469 | Ksh 191,091 | Ksh 249,531 |
| Year 4 | Ksh 365,096 | Ksh 223,651 | Ksh 134,904 |
| Year 5 | Ksh 500,000 | Ksh 235,933 | 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 5 years would run about Ksh 10,712/month — saving Ksh 93,195 in interest. See the Citibank N.A. Kenya version →