Ksh 5,000,000 loan at I&M Bank for 15 years.
At I&M Bank's current lending rate of 16.90%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 76,596. Total cost: Ksh 13,787,303 (Ksh 8,787,303 interest).
Monthly repayment
Ksh 76,596
At 16.90% · 180 payments
Total repayment
Ksh 13,787,303
2.76× the borrowed amount
Total interest
Ksh 8,787,303
Ksh 918,693 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 80,176 | Ksh 838,978 | Ksh 4,919,824 |
| Year 2 | Ksh 175,002 | Ksh 1,663,306 | Ksh 4,824,998 |
| Year 3 | Ksh 287,154 | Ksh 2,470,306 | Ksh 4,712,846 |
| Year 4 | Ksh 419,801 | Ksh 3,256,814 | Ksh 4,580,200 |
| Year 5 | Ksh 576,684 | Ksh 4,019,084 | Ksh 4,423,316 |
| Year 6 | Ksh 762,235 | Ksh 4,752,687 | Ksh 4,237,765 |
| Year 7 | Ksh 981,690 | Ksh 5,452,385 | Ksh 4,018,310 |
| Year 8 | Ksh 1,241,244 | Ksh 6,111,984 | Ksh 3,758,756 |
| Year 9 | Ksh 1,548,226 | Ksh 6,724,156 | Ksh 3,451,774 |
| Year 10 | Ksh 1,911,302 | Ksh 7,280,234 | Ksh 3,088,698 |
| Year 11 | Ksh 2,340,720 | Ksh 7,769,969 | Ksh 2,659,280 |
| Year 12 | Ksh 2,848,603 | Ksh 8,181,239 | Ksh 2,151,397 |
| Year 13 | Ksh 3,449,290 | Ksh 8,499,706 | Ksh 1,550,710 |
| Year 14 | Ksh 4,159,737 | Ksh 8,708,413 | Ksh 840,263 |
| Year 15 | Ksh 5,000,000 | Ksh 8,787,303 | 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 15 years would run about Ksh 54,837/month — saving Ksh 3,916,684 in interest. See the Citibank N.A. Kenya version →