Ksh 500,000 loan at SBM Bank Kenya for 2 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 24,984. Total cost: Ksh 599,611 (Ksh 99,611 interest).
Monthly repayment
Ksh 24,984
At 18.09% · 24 payments
Total repayment
Ksh 599,611
1.20× the borrowed amount
Total interest
Ksh 99,611
Ksh 15,260 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 227,616 | Ksh 72,189 | Ksh 272,384 |
| Year 2 | Ksh 500,000 | Ksh 99,611 | 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 2 years would run about Ksh 23,156/month — saving Ksh 43,876 in interest. See the Citibank N.A. Kenya version →