Ksh 10,000,000 loan at SBM Bank Kenya for 15 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 161,690. Total cost: Ksh 29,104,211 (Ksh 19,104,210 interest).
Monthly repayment
Ksh 161,690
At 18.09% · 180 payments
Total repayment
Ksh 29,104,211
2.91× the borrowed amount
Total interest
Ksh 19,104,210
Ksh 3,366,991 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 142,731 | Ksh 1,797,549 | Ksh 9,857,269 |
| Year 2 | Ksh 313,535 | Ksh 3,567,026 | Ksh 9,686,465 |
| Year 3 | Ksh 517,932 | Ksh 5,302,910 | Ksh 9,482,068 |
| Year 4 | Ksh 762,530 | Ksh 6,998,593 | Ksh 9,237,470 |
| Year 5 | Ksh 1,055,235 | Ksh 8,646,168 | Ksh 8,944,765 |
| Year 6 | Ksh 1,405,509 | Ksh 10,236,175 | Ksh 8,594,491 |
| Year 7 | Ksh 1,824,674 | Ksh 11,757,291 | Ksh 8,175,326 |
| Year 8 | Ksh 2,326,280 | Ksh 13,195,965 | Ksh 7,673,720 |
| Year 9 | Ksh 2,926,541 | Ksh 14,535,985 | Ksh 7,073,459 |
| Year 10 | Ksh 3,644,861 | Ksh 15,757,945 | Ksh 6,355,139 |
| Year 11 | Ksh 4,504,460 | Ksh 16,838,628 | Ksh 5,495,540 |
| Year 12 | Ksh 5,533,123 | Ksh 17,750,245 | Ksh 4,466,877 |
| Year 13 | Ksh 6,764,102 | Ksh 18,459,547 | Ksh 3,235,898 |
| Year 14 | Ksh 8,237,189 | Ksh 18,926,741 | Ksh 1,762,811 |
| Year 15 | Ksh 10,000,000 | Ksh 19,104,210 | 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 15 years would run about Ksh 109,674/month — saving Ksh 9,362,971 in interest. See the Citibank N.A. Kenya version →