Ksh 500,000 loan at I&M Bank for 5 years.
At I&M Bank's current lending rate of 16.90%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 12,399. Total cost: Ksh 743,965 (Ksh 243,965 interest).
Monthly repayment
Ksh 12,399
At 16.90% · 60 payments
Total repayment
Ksh 743,965
1.49× the borrowed amount
Total interest
Ksh 243,965
Ksh 23,320 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 69,514 | Ksh 79,279 | Ksh 430,486 |
| Year 2 | Ksh 151,731 | Ksh 145,855 | Ksh 348,269 |
| Year 3 | Ksh 248,970 | Ksh 197,409 | Ksh 251,030 |
| Year 4 | Ksh 363,978 | Ksh 231,194 | Ksh 136,022 |
| Year 5 | Ksh 500,000 | Ksh 243,965 | 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 500,000 loan over 5 years would run about Ksh 10,712/month — saving Ksh 101,227 in interest. See the Citibank N.A. Kenya version →