Ksh 1,000,000 loan at I&M Bank for 25 years.
At I&M Bank's current lending rate of 16.90%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 14,299. Total cost: Ksh 4,289,613 (Ksh 3,289,614 interest).
Monthly repayment
Ksh 14,299
At 16.90% · 300 payments
Total repayment
Ksh 4,289,613
4.29× the borrowed amount
Total interest
Ksh 3,289,614
Ksh 344,425 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 2,794 | Ksh 168,790 | Ksh 997,206 |
| Year 2 | Ksh 6,100 | Ksh 337,070 | Ksh 993,900 |
| Year 3 | Ksh 10,008 | Ksh 504,745 | Ksh 989,992 |
| Year 4 | Ksh 14,632 | Ksh 671,706 | Ksh 985,368 |
| Year 5 | Ksh 20,100 | Ksh 837,823 | Ksh 979,900 |
| Year 6 | Ksh 26,567 | Ksh 1,002,940 | Ksh 973,433 |
| Year 7 | Ksh 34,216 | Ksh 1,166,876 | Ksh 965,784 |
| Year 8 | Ksh 43,262 | Ksh 1,329,414 | Ksh 956,738 |
| Year 9 | Ksh 53,962 | Ksh 1,490,299 | Ksh 946,038 |
| Year 10 | Ksh 66,617 | Ksh 1,649,229 | Ksh 933,383 |
| Year 11 | Ksh 81,583 | Ksh 1,805,847 | Ksh 918,417 |
| Year 12 | Ksh 99,285 | Ksh 1,959,729 | Ksh 900,715 |
| Year 13 | Ksh 120,222 | Ksh 2,110,378 | Ksh 879,778 |
| Year 14 | Ksh 144,983 | Ksh 2,257,200 | Ksh 855,017 |
| Year 15 | Ksh 174,270 | Ksh 2,399,498 | Ksh 825,730 |
| Year 16 | Ksh 208,908 | Ksh 2,536,445 | Ksh 791,092 |
| Year 17 | Ksh 249,875 | Ksh 2,667,062 | Ksh 750,125 |
| Year 18 | Ksh 298,328 | Ksh 2,790,194 | Ksh 701,672 |
| Year 19 | Ksh 355,634 | Ksh 2,904,472 | Ksh 644,366 |
| Year 20 | Ksh 423,412 | Ksh 3,008,279 | Ksh 576,588 |
| Year 21 | Ksh 503,574 | Ksh 3,099,701 | Ksh 496,426 |
| Year 22 | Ksh 598,384 | Ksh 3,176,476 | Ksh 401,616 |
| Year 23 | Ksh 710,519 | Ksh 3,235,926 | Ksh 289,481 |
| Year 24 | Ksh 843,142 | Ksh 3,274,887 | Ksh 156,858 |
| Year 25 | Ksh 1,000,000 | Ksh 3,289,614 | 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 1,000,000 loan over 25 years would run about Ksh 9,342/month — saving Ksh 1,487,012 in interest. See the Citibank N.A. Kenya version →