Ksh 1,000,000 loan at SBM Bank Kenya for 20 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 15,502. Total cost: Ksh 3,720,578 (Ksh 2,720,579 interest).
Monthly repayment
Ksh 15,502
At 18.09% · 240 payments
Total repayment
Ksh 3,720,578
3.72× the borrowed amount
Total interest
Ksh 2,720,579
Ksh 481,984 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 5,576 | Ksh 180,453 | Ksh 994,424 |
| Year 2 | Ksh 12,249 | Ksh 359,809 | Ksh 987,751 |
| Year 3 | Ksh 20,235 | Ksh 537,852 | Ksh 979,765 |
| Year 4 | Ksh 29,791 | Ksh 714,325 | Ksh 970,209 |
| Year 5 | Ksh 41,227 | Ksh 888,918 | Ksh 958,773 |
| Year 6 | Ksh 54,911 | Ksh 1,061,262 | Ksh 945,089 |
| Year 7 | Ksh 71,288 | Ksh 1,230,915 | Ksh 928,713 |
| Year 8 | Ksh 90,885 | Ksh 1,397,347 | Ksh 909,115 |
| Year 9 | Ksh 114,336 | Ksh 1,559,925 | Ksh 885,664 |
| Year 10 | Ksh 142,400 | Ksh 1,717,890 | Ksh 857,600 |
| Year 11 | Ksh 175,983 | Ksh 1,870,335 | Ksh 824,017 |
| Year 12 | Ksh 216,171 | Ksh 2,016,176 | Ksh 783,829 |
| Year 13 | Ksh 264,264 | Ksh 2,154,112 | Ksh 735,736 |
| Year 14 | Ksh 321,816 | Ksh 2,282,590 | Ksh 678,184 |
| Year 15 | Ksh 390,686 | Ksh 2,399,748 | Ksh 609,314 |
| Year 16 | Ksh 473,102 | Ksh 2,503,361 | Ksh 526,898 |
| Year 17 | Ksh 571,728 | Ksh 2,590,765 | Ksh 428,272 |
| Year 18 | Ksh 689,751 | Ksh 2,658,771 | Ksh 310,249 |
| Year 19 | Ksh 830,986 | Ksh 2,703,564 | Ksh 169,014 |
| Year 20 | Ksh 1,000,000 | Ksh 2,720,579 | 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 20 years would run about Ksh 9,890/month — saving Ksh 1,346,995 in interest. See the Citibank N.A. Kenya version →