Ksh 500,000 loan at SBM Bank Kenya for 20 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 7,751. Total cost: Ksh 1,860,290 (Ksh 1,360,290 interest).
Monthly repayment
Ksh 7,751
At 18.09% · 240 payments
Total repayment
Ksh 1,860,290
3.72× the borrowed amount
Total interest
Ksh 1,360,290
Ksh 240,992 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 2,788 | Ksh 90,226 | Ksh 497,212 |
| Year 2 | Ksh 6,125 | Ksh 179,904 | Ksh 493,875 |
| Year 3 | Ksh 10,117 | Ksh 268,926 | Ksh 489,883 |
| Year 4 | Ksh 14,896 | Ksh 357,162 | Ksh 485,105 |
| Year 5 | Ksh 20,613 | Ksh 444,459 | Ksh 479,387 |
| Year 6 | Ksh 27,456 | Ksh 530,631 | Ksh 472,544 |
| Year 7 | Ksh 35,644 | Ksh 615,458 | Ksh 464,356 |
| Year 8 | Ksh 45,442 | Ksh 698,674 | Ksh 454,558 |
| Year 9 | Ksh 57,168 | Ksh 779,962 | Ksh 442,832 |
| Year 10 | Ksh 71,200 | Ksh 858,945 | Ksh 428,800 |
| Year 11 | Ksh 87,992 | Ksh 935,168 | Ksh 412,008 |
| Year 12 | Ksh 108,086 | Ksh 1,008,088 | Ksh 391,914 |
| Year 13 | Ksh 132,132 | Ksh 1,077,056 | Ksh 367,868 |
| Year 14 | Ksh 160,908 | Ksh 1,141,295 | Ksh 339,092 |
| Year 15 | Ksh 195,343 | Ksh 1,199,874 | Ksh 304,657 |
| Year 16 | Ksh 236,551 | Ksh 1,251,681 | Ksh 263,449 |
| Year 17 | Ksh 285,864 | Ksh 1,295,382 | Ksh 214,136 |
| Year 18 | Ksh 344,875 | Ksh 1,329,385 | Ksh 155,125 |
| Year 19 | Ksh 415,493 | Ksh 1,351,782 | Ksh 84,507 |
| Year 20 | Ksh 500,000 | Ksh 1,360,290 | 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 20 years would run about Ksh 4,945/month — saving Ksh 673,497 in interest. See the Citibank N.A. Kenya version →