Ksh 5,000,000 loan at I&M Bank for 2 years.
At I&M Bank's current lending rate of 16.90%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 246,971. Total cost: Ksh 5,927,307 (Ksh 927,307 interest).
Monthly repayment
Ksh 246,971
At 16.90% · 24 payments
Total repayment
Ksh 5,927,307
1.19× the borrowed amount
Total interest
Ksh 927,307
Ksh 83,792 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 2,290,715 | Ksh 672,939 | Ksh 2,709,285 |
| Year 2 | Ksh 5,000,000 | Ksh 927,307 | 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 2 years would run about Ksh 231,556/month — saving Ksh 369,956 in interest. See the Citibank N.A. Kenya version →