Ksh 1,000,000 loan at SBM Bank Kenya for 2 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 49,968. Total cost: Ksh 1,199,222 (Ksh 199,222 interest).
Monthly repayment
Ksh 49,968
At 18.09% · 24 payments
Total repayment
Ksh 1,199,222
1.20× the borrowed amount
Total interest
Ksh 199,222
Ksh 30,519 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 455,233 | Ksh 144,378 | Ksh 544,767 |
| Year 2 | Ksh 1,000,000 | Ksh 199,222 | 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 2 years would run about Ksh 46,311/month — saving Ksh 87,752 in interest. See the Citibank N.A. Kenya version →