Ksh 5,000,000 loan at Family Bank for 10 years.
At Family Bank's current lending rate of 16.40%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 85,007. Total cost: Ksh 10,200,862 (Ksh 5,200,861 interest).
Monthly repayment
Ksh 85,007
At 16.40% · 120 payments
Total repayment
Ksh 10,200,862
2.04× the borrowed amount
Total interest
Ksh 5,200,861
Ksh 358,459 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 215,833 | Ksh 804,254 | Ksh 4,784,167 |
| Year 2 | Ksh 469,847 | Ksh 1,570,325 | Ksh 4,530,153 |
| Year 3 | Ksh 768,799 | Ksh 2,291,459 | Ksh 4,231,201 |
| Year 4 | Ksh 1,120,637 | Ksh 2,959,707 | Ksh 3,879,363 |
| Year 5 | Ksh 1,534,718 | Ksh 3,565,713 | Ksh 3,465,282 |
| Year 6 | Ksh 2,022,053 | Ksh 4,098,464 | Ksh 2,977,947 |
| Year 7 | Ksh 2,595,600 | Ksh 4,545,003 | Ksh 2,404,401 |
| Year 8 | Ksh 3,270,611 | Ksh 4,890,078 | Ksh 1,729,389 |
| Year 9 | Ksh 4,065,036 | Ksh 5,115,739 | Ksh 934,964 |
| Year 10 | Ksh 5,000,000 | Ksh 5,200,861 | 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 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 2,151,724 in interest. See the Citibank N.A. Kenya version →