Ksh 2,000,000 loan at SBM Bank Kenya for 5 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 2,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 50,885. Total cost: Ksh 3,053,090 (Ksh 1,053,090 interest).
Monthly repayment
Ksh 50,885
At 18.09% · 60 payments
Total repayment
Ksh 3,053,090
1.53× the borrowed amount
Total interest
Ksh 1,053,090
Ksh 170,508 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 270,521 | Ksh 340,097 | Ksh 1,729,479 |
| Year 2 | Ksh 594,247 | Ksh 626,989 | Ksh 1,405,753 |
| Year 3 | Ksh 981,644 | Ksh 850,210 | Ksh 1,018,356 |
| Year 4 | Ksh 1,445,233 | Ksh 997,239 | Ksh 554,767 |
| Year 5 | Ksh 2,000,000 | Ksh 1,053,090 | 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 5 years would run about Ksh 42,849/month — saving Ksh 482,136 in interest. See the Citibank N.A. Kenya version →