Ksh 10,000,000 loan at SBM Bank Kenya for 5 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 254,424. Total cost: Ksh 15,265,448 (Ksh 5,265,448 interest).
Monthly repayment
Ksh 254,424
At 18.09% · 60 payments
Total repayment
Ksh 15,265,448
1.53× the borrowed amount
Total interest
Ksh 5,265,448
Ksh 852,539 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 1,352,604 | Ksh 1,700,486 | Ksh 8,647,396 |
| Year 2 | Ksh 2,971,235 | Ksh 3,134,944 | Ksh 7,028,765 |
| Year 3 | Ksh 4,908,218 | Ksh 4,251,051 | Ksh 5,091,782 |
| Year 4 | Ksh 7,226,164 | Ksh 4,986,194 | Ksh 2,773,836 |
| Year 5 | Ksh 10,000,000 | Ksh 5,265,448 | 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 5 years would run about Ksh 214,246/month — saving Ksh 2,410,680 in interest. See the Citibank N.A. Kenya version →