Ksh 2,000,000 loan at SBM Bank Kenya for 20 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 2,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 31,005. Total cost: Ksh 7,441,159 (Ksh 5,441,158 interest).
Monthly repayment
Ksh 31,005
At 18.09% · 240 payments
Total repayment
Ksh 7,441,159
3.72× the borrowed amount
Total interest
Ksh 5,441,158
Ksh 963,969 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 11,153 | Ksh 360,905 | Ksh 1,988,847 |
| Year 2 | Ksh 24,499 | Ksh 719,617 | Ksh 1,975,501 |
| Year 3 | Ksh 40,470 | Ksh 1,075,704 | Ksh 1,959,530 |
| Year 4 | Ksh 59,582 | Ksh 1,428,650 | Ksh 1,940,418 |
| Year 5 | Ksh 82,453 | Ksh 1,777,836 | Ksh 1,917,547 |
| Year 6 | Ksh 109,823 | Ksh 2,122,525 | Ksh 1,890,177 |
| Year 7 | Ksh 142,575 | Ksh 2,461,830 | Ksh 1,857,425 |
| Year 8 | Ksh 181,769 | Ksh 2,794,694 | Ksh 1,818,231 |
| Year 9 | Ksh 228,672 | Ksh 3,119,849 | Ksh 1,771,328 |
| Year 10 | Ksh 284,799 | Ksh 3,435,780 | Ksh 1,715,201 |
| Year 11 | Ksh 351,966 | Ksh 3,740,671 | Ksh 1,648,034 |
| Year 12 | Ksh 432,343 | Ksh 4,032,352 | Ksh 1,567,657 |
| Year 13 | Ksh 528,528 | Ksh 4,308,225 | Ksh 1,471,472 |
| Year 14 | Ksh 643,631 | Ksh 4,565,180 | Ksh 1,356,369 |
| Year 15 | Ksh 781,372 | Ksh 4,799,496 | Ksh 1,218,628 |
| Year 16 | Ksh 946,204 | Ksh 5,006,722 | Ksh 1,053,796 |
| Year 17 | Ksh 1,143,455 | Ksh 5,181,529 | Ksh 856,545 |
| Year 18 | Ksh 1,379,501 | Ksh 5,317,541 | Ksh 620,499 |
| Year 19 | Ksh 1,661,973 | Ksh 5,407,128 | Ksh 338,027 |
| Year 20 | Ksh 2,000,000 | Ksh 5,441,158 | 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 20 years would run about Ksh 19,780/month — saving Ksh 2,693,990 in interest. See the Citibank N.A. Kenya version →