Ksh 1,000,000 loan at SBM Bank Kenya for 15 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 16,169. Total cost: Ksh 2,910,422 (Ksh 1,910,421 interest).
Monthly repayment
Ksh 16,169
At 18.09% · 180 payments
Total repayment
Ksh 2,910,422
2.91× the borrowed amount
Total interest
Ksh 1,910,421
Ksh 336,699 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 14,273 | Ksh 179,755 | Ksh 985,727 |
| Year 2 | Ksh 31,354 | Ksh 356,703 | Ksh 968,646 |
| Year 3 | Ksh 51,793 | Ksh 530,291 | Ksh 948,207 |
| Year 4 | Ksh 76,253 | Ksh 699,859 | Ksh 923,747 |
| Year 5 | Ksh 105,524 | Ksh 864,617 | Ksh 894,477 |
| Year 6 | Ksh 140,551 | Ksh 1,023,618 | Ksh 859,449 |
| Year 7 | Ksh 182,467 | Ksh 1,175,729 | Ksh 817,533 |
| Year 8 | Ksh 232,628 | Ksh 1,319,597 | Ksh 767,372 |
| Year 9 | Ksh 292,654 | Ksh 1,453,598 | Ksh 707,346 |
| Year 10 | Ksh 364,486 | Ksh 1,575,795 | Ksh 635,514 |
| Year 11 | Ksh 450,446 | Ksh 1,683,863 | Ksh 549,554 |
| Year 12 | Ksh 553,312 | Ksh 1,775,025 | Ksh 446,688 |
| Year 13 | Ksh 676,410 | Ksh 1,845,955 | Ksh 323,590 |
| Year 14 | Ksh 823,719 | Ksh 1,892,674 | Ksh 176,281 |
| Year 15 | Ksh 1,000,000 | Ksh 1,910,421 | 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 15 years would run about Ksh 10,967/month — saving Ksh 936,297 in interest. See the Citibank N.A. Kenya version →