Ksh 5,000,000 loan at Family Bank for 5 years.
At Family Bank's current lending rate of 16.40%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 122,656. Total cost: Ksh 7,359,330 (Ksh 2,359,330 interest).
Monthly repayment
Ksh 122,656
At 16.40% · 60 payments
Total repayment
Ksh 7,359,330
1.47× the borrowed amount
Total interest
Ksh 2,359,330
Ksh 152,876 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 703,167 | Ksh 768,699 | Ksh 4,296,833 |
| Year 2 | Ksh 1,530,729 | Ksh 1,413,003 | Ksh 3,469,271 |
| Year 3 | Ksh 2,504,692 | Ksh 1,910,906 | Ksh 2,495,308 |
| Year 4 | Ksh 3,650,955 | Ksh 2,236,509 | Ksh 1,349,045 |
| Year 5 | Ksh 5,000,000 | Ksh 2,359,330 | 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 5 years would run about Ksh 107,123/month — saving Ksh 931,946 in interest. See the Citibank N.A. Kenya version →