Ksh 5,000,000 loan at Family Bank for 15 years.
At Family Bank's current lending rate of 16.40%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 74,834. Total cost: Ksh 13,470,154 (Ksh 8,470,153 interest).
Monthly repayment
Ksh 74,834
At 16.40% · 180 payments
Total repayment
Ksh 13,470,154
2.69× the borrowed amount
Total interest
Ksh 8,470,153
Ksh 601,543 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 84,150 | Ksh 813,861 | Ksh 4,915,850 |
| Year 2 | Ksh 183,186 | Ksh 1,612,835 | Ksh 4,816,814 |
| Year 3 | Ksh 299,742 | Ksh 2,394,289 | Ksh 4,700,258 |
| Year 4 | Ksh 436,918 | Ksh 3,155,123 | Ksh 4,563,082 |
| Year 5 | Ksh 598,361 | Ksh 3,891,690 | Ksh 4,401,639 |
| Year 6 | Ksh 788,364 | Ksh 4,599,697 | Ksh 4,211,636 |
| Year 7 | Ksh 1,011,981 | Ksh 5,274,091 | Ksh 3,988,019 |
| Year 8 | Ksh 1,275,156 | Ksh 5,908,926 | Ksh 3,724,844 |
| Year 9 | Ksh 1,584,889 | Ksh 6,497,203 | Ksh 3,415,111 |
| Year 10 | Ksh 1,949,416 | Ksh 7,030,686 | Ksh 3,050,584 |
| Year 11 | Ksh 2,378,430 | Ksh 7,499,682 | Ksh 2,621,570 |
| Year 12 | Ksh 2,883,339 | Ksh 7,892,783 | Ksh 2,116,661 |
| Year 13 | Ksh 3,477,570 | Ksh 8,196,562 | Ksh 1,522,430 |
| Year 14 | Ksh 4,176,925 | Ksh 8,395,218 | Ksh 823,075 |
| Year 15 | Ksh 5,000,000 | Ksh 8,470,153 | 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 15 years would run about Ksh 54,837/month — saving Ksh 3,599,534 in interest. See the Citibank N.A. Kenya version →