Ksh 1,000,000 loan at SBM Bank Kenya for 10 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 18,077. Total cost: Ksh 2,169,180 (Ksh 1,169,180 interest).
Monthly repayment
Ksh 18,077
At 18.09% · 120 payments
Total repayment
Ksh 2,169,180
2.17× the borrowed amount
Total interest
Ksh 1,169,180
Ksh 200,700 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 39,160 | Ksh 177,758 | Ksh 960,840 |
| Year 2 | Ksh 86,021 | Ksh 347,815 | Ksh 913,979 |
| Year 3 | Ksh 142,099 | Ksh 508,655 | Ksh 857,901 |
| Year 4 | Ksh 209,207 | Ksh 658,465 | Ksh 790,793 |
| Year 5 | Ksh 289,513 | Ksh 795,077 | Ksh 710,487 |
| Year 6 | Ksh 385,614 | Ksh 915,894 | Ksh 614,386 |
| Year 7 | Ksh 500,615 | Ksh 1,017,811 | Ksh 499,385 |
| Year 8 | Ksh 638,236 | Ksh 1,097,109 | Ksh 361,764 |
| Year 9 | Ksh 802,923 | Ksh 1,149,340 | Ksh 197,077 |
| Year 10 | Ksh 1,000,000 | Ksh 1,169,180 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 559,353 in interest. See the Citibank N.A. Kenya version →