Ksh 2,000,000 loan at SBM Bank Kenya for 3 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 72,395. Total cost: Ksh 2,606,224 (Ksh 606,224 interest).
Monthly repayment
Ksh 72,395
At 18.09% · 36 payments
Total repayment
Ksh 2,606,224
1.30× the borrowed amount
Total interest
Ksh 606,224
Ksh 94,779 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 551,159 | Ksh 317,583 | Ksh 1,448,841 |
| Year 2 | Ksh 1,210,719 | Ksh 526,764 | Ksh 789,281 |
| Year 3 | Ksh 2,000,000 | Ksh 606,224 | 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 3 years would run about Ksh 64,873/month — saving Ksh 270,799 in interest. See the Citibank N.A. Kenya version →