Ksh 10,000,000 loan at SBM Bank Kenya for 10 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 180,765. Total cost: Ksh 21,691,802 (Ksh 11,691,802 interest).
Monthly repayment
Ksh 180,765
At 18.09% · 120 payments
Total repayment
Ksh 21,691,802
2.17× the borrowed amount
Total interest
Ksh 11,691,802
Ksh 2,006,998 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 391,596 | Ksh 1,777,584 | Ksh 9,608,404 |
| Year 2 | Ksh 860,212 | Ksh 3,478,149 | Ksh 9,139,788 |
| Year 3 | Ksh 1,420,993 | Ksh 5,086,547 | Ksh 8,579,007 |
| Year 4 | Ksh 2,092,069 | Ksh 6,584,652 | Ksh 7,907,931 |
| Year 5 | Ksh 2,895,131 | Ksh 7,950,770 | Ksh 7,104,869 |
| Year 6 | Ksh 3,856,138 | Ksh 9,158,943 | Ksh 6,143,862 |
| Year 7 | Ksh 5,006,155 | Ksh 10,178,107 | Ksh 4,993,845 |
| Year 8 | Ksh 6,382,355 | Ksh 10,971,086 | Ksh 3,617,645 |
| Year 9 | Ksh 8,029,226 | Ksh 11,493,396 | Ksh 1,970,775 |
| Year 10 | Ksh 10,000,000 | Ksh 11,691,802 | 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 10,000,000 loan over 10 years would run about Ksh 134,152/month — saving Ksh 5,593,527 in interest. See the Citibank N.A. Kenya version →