Ksh 500,000 loan at SBM Bank Kenya for 10 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 9,038. Total cost: Ksh 1,084,590 (Ksh 584,590 interest).
Monthly repayment
Ksh 9,038
At 18.09% · 120 payments
Total repayment
Ksh 1,084,590
2.17× the borrowed amount
Total interest
Ksh 584,590
Ksh 100,350 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 19,580 | Ksh 88,879 | Ksh 480,420 |
| Year 2 | Ksh 43,011 | Ksh 173,907 | Ksh 456,989 |
| Year 3 | Ksh 71,050 | Ksh 254,327 | Ksh 428,950 |
| Year 4 | Ksh 104,603 | Ksh 329,233 | Ksh 395,397 |
| Year 5 | Ksh 144,757 | Ksh 397,539 | Ksh 355,243 |
| Year 6 | Ksh 192,807 | Ksh 457,947 | Ksh 307,193 |
| Year 7 | Ksh 250,308 | Ksh 508,905 | Ksh 249,692 |
| Year 8 | Ksh 319,118 | Ksh 548,554 | Ksh 180,882 |
| Year 9 | Ksh 401,461 | Ksh 574,670 | Ksh 98,539 |
| Year 10 | Ksh 500,000 | Ksh 584,590 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 279,676 in interest. See the Citibank N.A. Kenya version →