Ksh 5,000,000 loan at SBM Bank Kenya for 15 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 80,845. Total cost: Ksh 14,552,105 (Ksh 9,552,105 interest).
Monthly repayment
Ksh 80,845
At 18.09% · 180 payments
Total repayment
Ksh 14,552,105
2.91× the borrowed amount
Total interest
Ksh 9,552,105
Ksh 1,683,495 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 71,366 | Ksh 898,775 | Ksh 4,928,634 |
| Year 2 | Ksh 156,768 | Ksh 1,783,513 | Ksh 4,843,232 |
| Year 3 | Ksh 258,966 | Ksh 2,651,455 | Ksh 4,741,034 |
| Year 4 | Ksh 381,265 | Ksh 3,499,296 | Ksh 4,618,735 |
| Year 5 | Ksh 527,618 | Ksh 4,323,084 | Ksh 4,472,382 |
| Year 6 | Ksh 702,754 | Ksh 5,118,088 | Ksh 4,297,246 |
| Year 7 | Ksh 912,337 | Ksh 5,878,645 | Ksh 4,087,663 |
| Year 8 | Ksh 1,163,140 | Ksh 6,597,983 | Ksh 3,836,860 |
| Year 9 | Ksh 1,463,271 | Ksh 7,267,992 | Ksh 3,536,729 |
| Year 10 | Ksh 1,822,431 | Ksh 7,878,973 | Ksh 3,177,569 |
| Year 11 | Ksh 2,252,230 | Ksh 8,419,314 | Ksh 2,747,770 |
| Year 12 | Ksh 2,766,561 | Ksh 8,875,123 | Ksh 2,233,439 |
| Year 13 | Ksh 3,382,051 | Ksh 9,229,774 | Ksh 1,617,949 |
| Year 14 | Ksh 4,118,594 | Ksh 9,463,371 | Ksh 881,406 |
| Year 15 | Ksh 5,000,000 | Ksh 9,552,105 | 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 5,000,000 loan over 15 years would run about Ksh 54,837/month — saving Ksh 4,681,486 in interest. See the Citibank N.A. Kenya version →