Ksh 5,000,000 loan at Family Bank for 25 years.
At Family Bank's current lending rate of 16.40%, a Ksh 5,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 69,518. Total cost: Ksh 20,855,361 (Ksh 15,855,360 interest).
Monthly repayment
Ksh 69,518
At 16.40% · 300 payments
Total repayment
Ksh 20,855,361
4.17× the borrowed amount
Total interest
Ksh 15,855,360
Ksh 1,129,414 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 15,333 | Ksh 818,881 | Ksh 4,984,667 |
| Year 2 | Ksh 33,379 | Ksh 1,635,050 | Ksh 4,966,621 |
| Year 3 | Ksh 54,617 | Ksh 2,448,027 | Ksh 4,945,383 |
| Year 4 | Ksh 79,612 | Ksh 3,257,246 | Ksh 4,920,388 |
| Year 5 | Ksh 109,028 | Ksh 4,062,044 | Ksh 4,890,972 |
| Year 6 | Ksh 143,649 | Ksh 4,861,637 | Ksh 4,856,351 |
| Year 7 | Ksh 184,395 | Ksh 5,655,106 | Ksh 4,815,605 |
| Year 8 | Ksh 232,349 | Ksh 6,441,367 | Ksh 4,767,651 |
| Year 9 | Ksh 288,786 | Ksh 7,219,144 | Ksh 4,711,214 |
| Year 10 | Ksh 355,207 | Ksh 7,986,937 | Ksh 4,644,793 |
| Year 11 | Ksh 433,378 | Ksh 8,742,980 | Ksh 4,566,622 |
| Year 12 | Ksh 525,379 | Ksh 9,485,194 | Ksh 4,474,622 |
| Year 13 | Ksh 633,654 | Ksh 10,211,133 | Ksh 4,366,346 |
| Year 14 | Ksh 761,085 | Ksh 10,917,916 | Ksh 4,238,915 |
| Year 15 | Ksh 911,059 | Ksh 11,602,157 | Ksh 4,088,941 |
| Year 16 | Ksh 1,087,564 | Ksh 12,259,866 | Ksh 3,912,436 |
| Year 17 | Ksh 1,295,295 | Ksh 12,886,350 | Ksh 3,704,705 |
| Year 18 | Ksh 1,539,774 | Ksh 13,476,085 | Ksh 3,460,226 |
| Year 19 | Ksh 1,827,503 | Ksh 14,022,570 | Ksh 3,172,497 |
| Year 20 | Ksh 2,166,133 | Ksh 14,518,154 | Ksh 2,833,867 |
| Year 21 | Ksh 2,564,670 | Ksh 14,953,832 | Ksh 2,435,330 |
| Year 22 | Ksh 3,033,710 | Ksh 15,319,007 | Ksh 1,966,290 |
| Year 23 | Ksh 3,585,726 | Ksh 15,601,205 | Ksh 1,414,274 |
| Year 24 | Ksh 4,235,397 | Ksh 15,785,748 | Ksh 764,603 |
| Year 25 | Ksh 5,000,000 | Ksh 15,855,360 | 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 25 years would run about Ksh 46,710/month — saving Ksh 6,842,352 in interest. See the Citibank N.A. Kenya version →