Ksh 5,000,000 loan at I&M Bank for 5 years.
At I&M Bank's current lending rate of 16.90%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 123,994. Total cost: Ksh 7,439,651 (Ksh 2,439,651 interest).
Monthly repayment
Ksh 123,994
At 16.90% · 60 payments
Total repayment
Ksh 7,439,651
1.49× the borrowed amount
Total interest
Ksh 2,439,651
Ksh 233,197 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 695,144 | Ksh 792,786 | Ksh 4,304,856 |
| Year 2 | Ksh 1,517,309 | Ksh 1,458,552 | Ksh 3,482,691 |
| Year 3 | Ksh 2,489,703 | Ksh 1,974,088 | Ksh 2,510,297 |
| Year 4 | Ksh 3,639,778 | Ksh 2,311,943 | Ksh 1,360,222 |
| Year 5 | Ksh 5,000,000 | Ksh 2,439,651 | 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 5 years would run about Ksh 107,123/month — saving Ksh 1,012,268 in interest. See the Citibank N.A. Kenya version →