Ksh 5,000,000 loan at Family Bank for 3 years.
At Family Bank's current lending rate of 16.40%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 176,774. Total cost: Ksh 6,363,870 (Ksh 1,363,870 interest).
Monthly repayment
Ksh 176,774
At 16.40% · 36 payments
Total repayment
Ksh 6,363,870
1.27× the borrowed amount
Total interest
Ksh 1,363,870
Ksh 85,256 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 1,403,700 | Ksh 717,590 | Ksh 3,596,300 |
| Year 2 | Ksh 3,055,723 | Ksh 1,186,857 | Ksh 1,944,277 |
| Year 3 | Ksh 5,000,000 | Ksh 1,363,870 | 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 3 years would run about Ksh 162,182/month — saving Ksh 525,305 in interest. See the Citibank N.A. Kenya version →