Ksh 2,000,000 loan at SBM Bank Kenya for 15 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 32,338. Total cost: Ksh 5,820,842 (Ksh 3,820,842 interest).
Monthly repayment
Ksh 32,338
At 18.09% · 180 payments
Total repayment
Ksh 5,820,842
2.91× the borrowed amount
Total interest
Ksh 3,820,842
Ksh 673,398 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 28,546 | Ksh 359,510 | Ksh 1,971,454 |
| Year 2 | Ksh 62,707 | Ksh 713,405 | Ksh 1,937,293 |
| Year 3 | Ksh 103,586 | Ksh 1,060,582 | Ksh 1,896,414 |
| Year 4 | Ksh 152,506 | Ksh 1,399,719 | Ksh 1,847,494 |
| Year 5 | Ksh 211,047 | Ksh 1,729,234 | Ksh 1,788,953 |
| Year 6 | Ksh 281,102 | Ksh 2,047,235 | Ksh 1,718,898 |
| Year 7 | Ksh 364,935 | Ksh 2,351,458 | Ksh 1,635,065 |
| Year 8 | Ksh 465,256 | Ksh 2,639,193 | Ksh 1,534,744 |
| Year 9 | Ksh 585,308 | Ksh 2,907,197 | Ksh 1,414,692 |
| Year 10 | Ksh 728,972 | Ksh 3,151,589 | Ksh 1,271,028 |
| Year 11 | Ksh 900,892 | Ksh 3,367,726 | Ksh 1,099,108 |
| Year 12 | Ksh 1,106,625 | Ksh 3,550,049 | Ksh 893,375 |
| Year 13 | Ksh 1,352,820 | Ksh 3,691,909 | Ksh 647,180 |
| Year 14 | Ksh 1,647,438 | Ksh 3,785,348 | Ksh 352,562 |
| Year 15 | Ksh 2,000,000 | Ksh 3,820,842 | 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 2,000,000 loan over 15 years would run about Ksh 21,935/month — saving Ksh 1,872,594 in interest. See the Citibank N.A. Kenya version →