Ksh 2,000,000 loan at SBM Bank Kenya for 2 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 99,935. Total cost: Ksh 2,398,445 (Ksh 398,445 interest).
Monthly repayment
Ksh 99,935
At 18.09% · 24 payments
Total repayment
Ksh 2,398,445
1.20× the borrowed amount
Total interest
Ksh 398,445
Ksh 61,039 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 910,465 | Ksh 288,757 | Ksh 1,089,535 |
| Year 2 | Ksh 2,000,000 | Ksh 398,445 | 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 2 years would run about Ksh 92,623/month — saving Ksh 175,504 in interest. See the Citibank N.A. Kenya version →