Ksh 1,000,000 loan at SBM Bank Kenya for 5 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 25,442. Total cost: Ksh 1,526,545 (Ksh 526,545 interest).
Monthly repayment
Ksh 25,442
At 18.09% · 60 payments
Total repayment
Ksh 1,526,545
1.53× the borrowed amount
Total interest
Ksh 526,545
Ksh 85,254 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 135,260 | Ksh 170,049 | Ksh 864,740 |
| Year 2 | Ksh 297,124 | Ksh 313,494 | Ksh 702,876 |
| Year 3 | Ksh 490,822 | Ksh 425,105 | Ksh 509,178 |
| Year 4 | Ksh 722,616 | Ksh 498,619 | Ksh 277,384 |
| Year 5 | Ksh 1,000,000 | Ksh 526,545 | 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 5 years would run about Ksh 21,425/month — saving Ksh 241,068 in interest. See the Citibank N.A. Kenya version →