Ksh 500,000 loan at SBM Bank Kenya for 15 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 8,085. Total cost: Ksh 1,455,210 (Ksh 955,211 interest).
Monthly repayment
Ksh 8,085
At 18.09% · 180 payments
Total repayment
Ksh 1,455,210
2.91× the borrowed amount
Total interest
Ksh 955,211
Ksh 168,350 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 7,137 | Ksh 89,877 | Ksh 492,863 |
| Year 2 | Ksh 15,677 | Ksh 178,351 | Ksh 484,323 |
| Year 3 | Ksh 25,897 | Ksh 265,145 | Ksh 474,103 |
| Year 4 | Ksh 38,127 | Ksh 349,930 | Ksh 461,873 |
| Year 5 | Ksh 52,762 | Ksh 432,308 | Ksh 447,238 |
| Year 6 | Ksh 70,275 | Ksh 511,809 | Ksh 429,725 |
| Year 7 | Ksh 91,234 | Ksh 587,865 | Ksh 408,766 |
| Year 8 | Ksh 116,314 | Ksh 659,798 | Ksh 383,686 |
| Year 9 | Ksh 146,327 | Ksh 726,799 | Ksh 353,673 |
| Year 10 | Ksh 182,243 | Ksh 787,897 | Ksh 317,757 |
| Year 11 | Ksh 225,223 | Ksh 841,931 | Ksh 274,777 |
| Year 12 | Ksh 276,656 | Ksh 887,512 | Ksh 223,344 |
| Year 13 | Ksh 338,205 | Ksh 922,977 | Ksh 161,795 |
| Year 14 | Ksh 411,859 | Ksh 946,337 | Ksh 88,141 |
| Year 15 | Ksh 500,000 | Ksh 955,211 | 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 15 years would run about Ksh 5,484/month — saving Ksh 468,149 in interest. See the Citibank N.A. Kenya version →