Ksh 5,000,000 loan at SBM Bank Kenya for 20 years.
At SBM Bank Kenya's current lending rate of 18.09%, a Ksh 5,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 77,512. Total cost: Ksh 18,602,894 (Ksh 13,602,896 interest).
Monthly repayment
Ksh 77,512
At 18.09% · 240 payments
Total repayment
Ksh 18,602,894
3.72× the borrowed amount
Total interest
Ksh 13,602,896
Ksh 2,409,922 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 27,882 | Ksh 902,263 | Ksh 4,972,118 |
| Year 2 | Ksh 61,247 | Ksh 1,799,043 | Ksh 4,938,753 |
| Year 3 | Ksh 101,175 | Ksh 2,689,260 | Ksh 4,898,825 |
| Year 4 | Ksh 148,955 | Ksh 3,571,624 | Ksh 4,851,045 |
| Year 5 | Ksh 206,133 | Ksh 4,444,591 | Ksh 4,793,867 |
| Year 6 | Ksh 274,556 | Ksh 5,306,312 | Ksh 4,725,444 |
| Year 7 | Ksh 356,437 | Ksh 6,154,576 | Ksh 4,643,563 |
| Year 8 | Ksh 454,423 | Ksh 6,986,735 | Ksh 4,545,577 |
| Year 9 | Ksh 571,680 | Ksh 7,799,623 | Ksh 4,428,320 |
| Year 10 | Ksh 711,999 | Ksh 8,589,449 | Ksh 4,288,001 |
| Year 11 | Ksh 879,915 | Ksh 9,351,677 | Ksh 4,120,085 |
| Year 12 | Ksh 1,080,857 | Ksh 10,080,880 | Ksh 3,919,143 |
| Year 13 | Ksh 1,321,321 | Ksh 10,770,561 | Ksh 3,678,679 |
| Year 14 | Ksh 1,609,078 | Ksh 11,412,949 | Ksh 3,390,922 |
| Year 15 | Ksh 1,953,431 | Ksh 11,998,741 | Ksh 3,046,569 |
| Year 16 | Ksh 2,365,511 | Ksh 12,516,805 | Ksh 2,634,489 |
| Year 17 | Ksh 2,858,638 | Ksh 12,953,823 | Ksh 2,141,362 |
| Year 18 | Ksh 3,448,753 | Ksh 13,293,853 | Ksh 1,551,247 |
| Year 19 | Ksh 4,154,932 | Ksh 13,517,819 | Ksh 845,068 |
| Year 20 | Ksh 5,000,000 | Ksh 13,602,896 | 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 20 years would run about Ksh 49,450/month — saving Ksh 6,734,974 in interest. See the Citibank N.A. Kenya version →