Ksh 10,000,000 loan at SBM Bank Kenya for 20 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 10,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 155,024. Total cost: Ksh 37,205,791 (Ksh 27,205,791 interest).
Monthly repayment
Ksh 155,024
At 18.09% · 240 payments
Total repayment
Ksh 37,205,791
3.72× the borrowed amount
Total interest
Ksh 27,205,791
Ksh 4,819,844 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 55,763 | Ksh 1,804,526 | Ksh 9,944,237 |
| Year 2 | Ksh 122,494 | Ksh 3,598,085 | Ksh 9,877,506 |
| Year 3 | Ksh 202,349 | Ksh 5,378,520 | Ksh 9,797,651 |
| Year 4 | Ksh 297,910 | Ksh 7,143,248 | Ksh 9,702,090 |
| Year 5 | Ksh 412,266 | Ksh 8,889,182 | Ksh 9,587,734 |
| Year 6 | Ksh 549,113 | Ksh 10,612,624 | Ksh 9,450,887 |
| Year 7 | Ksh 712,875 | Ksh 12,309,152 | Ksh 9,287,125 |
| Year 8 | Ksh 908,846 | Ksh 13,973,471 | Ksh 9,091,154 |
| Year 9 | Ksh 1,143,359 | Ksh 15,599,247 | Ksh 8,856,641 |
| Year 10 | Ksh 1,423,997 | Ksh 17,178,898 | Ksh 8,576,003 |
| Year 11 | Ksh 1,759,830 | Ksh 18,703,355 | Ksh 8,240,170 |
| Year 12 | Ksh 2,161,715 | Ksh 20,161,760 | Ksh 7,838,285 |
| Year 13 | Ksh 2,642,641 | Ksh 21,541,123 | Ksh 7,357,359 |
| Year 14 | Ksh 3,218,156 | Ksh 22,825,898 | Ksh 6,781,844 |
| Year 15 | Ksh 3,906,862 | Ksh 23,997,481 | Ksh 6,093,138 |
| Year 16 | Ksh 4,731,022 | Ksh 25,033,611 | Ksh 5,268,978 |
| Year 17 | Ksh 5,717,277 | Ksh 25,907,646 | Ksh 4,282,723 |
| Year 18 | Ksh 6,897,507 | Ksh 26,587,705 | Ksh 3,102,493 |
| Year 19 | Ksh 8,309,863 | Ksh 27,035,638 | Ksh 1,690,137 |
| Year 20 | Ksh 10,000,000 | Ksh 27,205,791 | 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 20 years would run about Ksh 98,899/month — saving Ksh 13,469,949 in interest. See the Citibank N.A. Kenya version →