Ksh 10,000,000 loan at I&M Bank for 10 years.
At I&M Bank's current lending rate of 16.90%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 173,165. Total cost: Ksh 20,779,741 (Ksh 10,779,741 interest).
Monthly repayment
Ksh 173,165
At 16.90% · 120 payments
Total repayment
Ksh 20,779,741
2.08× the borrowed amount
Total interest
Ksh 10,779,741
Ksh 1,094,937 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 419,482 | Ksh 1,658,492 | Ksh 9,580,518 |
| Year 2 | Ksh 915,615 | Ksh 3,240,333 | Ksh 9,084,385 |
| Year 3 | Ksh 1,502,403 | Ksh 4,731,520 | Ksh 8,497,597 |
| Year 4 | Ksh 2,196,412 | Ksh 6,115,485 | Ksh 7,803,588 |
| Year 5 | Ksh 3,017,233 | Ksh 7,372,637 | Ksh 6,982,767 |
| Year 6 | Ksh 3,988,039 | Ksh 8,479,806 | Ksh 6,011,961 |
| Year 7 | Ksh 5,136,235 | Ksh 9,409,583 | Ksh 4,863,765 |
| Year 8 | Ksh 6,494,236 | Ksh 10,129,557 | Ksh 3,505,764 |
| Year 9 | Ksh 8,100,377 | Ksh 10,601,390 | Ksh 1,899,623 |
| Year 10 | Ksh 10,000,000 | Ksh 10,779,741 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 4,681,466 in interest. See the Citibank N.A. Kenya version →