Ksh 10,000,000 loan at I&M Bank for 15 years.
At I&M Bank's current lending rate of 16.90%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 153,192. Total cost: Ksh 27,574,607 (Ksh 17,574,607 interest).
Monthly repayment
Ksh 153,192
At 16.90% · 180 payments
Total repayment
Ksh 27,574,607
2.76× the borrowed amount
Total interest
Ksh 17,574,607
Ksh 1,837,387 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 160,351 | Ksh 1,677,956 | Ksh 9,839,649 |
| Year 2 | Ksh 350,003 | Ksh 3,326,611 | Ksh 9,649,997 |
| Year 3 | Ksh 574,309 | Ksh 4,940,612 | Ksh 9,425,691 |
| Year 4 | Ksh 839,601 | Ksh 6,513,627 | Ksh 9,160,399 |
| Year 5 | Ksh 1,153,368 | Ksh 8,038,167 | Ksh 8,846,632 |
| Year 6 | Ksh 1,524,469 | Ksh 9,505,374 | Ksh 8,475,531 |
| Year 7 | Ksh 1,963,379 | Ksh 10,904,771 | Ksh 8,036,621 |
| Year 8 | Ksh 2,482,489 | Ksh 12,223,968 | Ksh 7,517,511 |
| Year 9 | Ksh 3,096,453 | Ksh 13,448,311 | Ksh 6,903,547 |
| Year 10 | Ksh 3,822,603 | Ksh 14,560,468 | Ksh 6,177,397 |
| Year 11 | Ksh 4,681,440 | Ksh 15,539,939 | Ksh 5,318,560 |
| Year 12 | Ksh 5,697,207 | Ksh 16,362,479 | Ksh 4,302,793 |
| Year 13 | Ksh 6,898,580 | Ksh 16,999,413 | Ksh 3,101,420 |
| Year 14 | Ksh 8,319,474 | Ksh 17,416,826 | Ksh 1,680,526 |
| Year 15 | Ksh 10,000,000 | Ksh 17,574,607 | 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 15 years would run about Ksh 109,674/month — saving Ksh 7,833,367 in interest. See the Citibank N.A. Kenya version →