Ksh 1,000,000 loan at SBM Bank Kenya for 3 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 36,198. Total cost: Ksh 1,303,112 (Ksh 303,112 interest).
Monthly repayment
Ksh 36,198
At 18.09% · 36 payments
Total repayment
Ksh 1,303,112
1.30× the borrowed amount
Total interest
Ksh 303,112
Ksh 47,389 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 275,579 | Ksh 158,791 | Ksh 724,421 |
| Year 2 | Ksh 605,359 | Ksh 263,382 | Ksh 394,641 |
| Year 3 | Ksh 1,000,000 | Ksh 303,112 | 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 3 years would run about Ksh 32,436/month — saving Ksh 135,399 in interest. See the Citibank N.A. Kenya version →