Ksh 1,000,000 loan at SBM Bank Kenya for 25 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 15,246. Total cost: Ksh 4,573,887 (Ksh 3,573,886 interest).
Monthly repayment
Ksh 15,246
At 18.09% · 300 payments
Total repayment
Ksh 4,573,887
4.57× the borrowed amount
Total interest
Ksh 3,573,886
Ksh 628,697 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 2,235 | Ksh 180,721 | Ksh 997,765 |
| Year 2 | Ksh 4,909 | Ksh 361,002 | Ksh 995,091 |
| Year 3 | Ksh 8,109 | Ksh 540,757 | Ksh 991,891 |
| Year 4 | Ksh 11,939 | Ksh 719,883 | Ksh 988,061 |
| Year 5 | Ksh 16,522 | Ksh 898,256 | Ksh 983,478 |
| Year 6 | Ksh 22,006 | Ksh 1,075,727 | Ksh 977,994 |
| Year 7 | Ksh 28,569 | Ksh 1,252,119 | Ksh 971,431 |
| Year 8 | Ksh 36,422 | Ksh 1,427,221 | Ksh 963,578 |
| Year 9 | Ksh 45,820 | Ksh 1,600,779 | Ksh 954,180 |
| Year 10 | Ksh 57,067 | Ksh 1,772,487 | Ksh 942,933 |
| Year 11 | Ksh 70,526 | Ksh 1,941,984 | Ksh 929,474 |
| Year 12 | Ksh 86,631 | Ksh 2,108,834 | Ksh 913,369 |
| Year 13 | Ksh 105,905 | Ksh 2,272,516 | Ksh 894,095 |
| Year 14 | Ksh 128,969 | Ksh 2,432,408 | Ksh 871,031 |
| Year 15 | Ksh 156,569 | Ksh 2,587,763 | Ksh 843,431 |
| Year 16 | Ksh 189,597 | Ksh 2,737,690 | Ksh 810,403 |
| Year 17 | Ksh 229,122 | Ksh 2,881,121 | Ksh 770,878 |
| Year 18 | Ksh 276,420 | Ksh 3,016,778 | Ksh 723,580 |
| Year 19 | Ksh 333,020 | Ksh 3,143,133 | Ksh 666,980 |
| Year 20 | Ksh 400,753 | Ksh 3,258,356 | Ksh 599,247 |
| Year 21 | Ksh 481,807 | Ksh 3,360,257 | Ksh 518,193 |
| Year 22 | Ksh 578,803 | Ksh 3,446,216 | Ksh 421,197 |
| Year 23 | Ksh 694,877 | Ksh 3,513,099 | Ksh 305,123 |
| Year 24 | Ksh 833,779 | Ksh 3,557,152 | Ksh 166,221 |
| Year 25 | Ksh 1,000,000 | Ksh 3,573,886 | 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 25 years would run about Ksh 9,342/month — saving Ksh 1,771,285 in interest. See the Citibank N.A. Kenya version →