Ksh 500,000 loan at Standard Chartered Bank Kenya for 15 years.
At Standard Chartered Bank Kenya's current lending rate of 13.35%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 6,442. Total cost: Ksh 1,159,522 (Ksh 659,523 interest).
Monthly repayment
Ksh 6,442
At 13.35% · 180 payments
Total repayment
Ksh 1,159,522
2.32× the borrowed amount
Total interest
Ksh 659,523
Ksh 127,338 less 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 11,222 | Ksh 66,080 | Ksh 488,778 |
| Year 2 | Ksh 24,037 | Ksh 130,566 | Ksh 475,963 |
| Year 3 | Ksh 38,671 | Ksh 193,234 | Ksh 461,329 |
| Year 4 | Ksh 55,383 | Ksh 253,823 | Ksh 444,617 |
| Year 5 | Ksh 74,468 | Ksh 312,039 | Ksh 425,532 |
| Year 6 | Ksh 96,263 | Ksh 367,546 | Ksh 403,737 |
| Year 7 | Ksh 121,152 | Ksh 419,959 | Ksh 378,848 |
| Year 8 | Ksh 149,575 | Ksh 468,838 | Ksh 350,425 |
| Year 9 | Ksh 182,033 | Ksh 513,681 | Ksh 317,967 |
| Year 10 | Ksh 219,099 | Ksh 553,916 | Ksh 280,901 |
| Year 11 | Ksh 261,429 | Ksh 588,888 | Ksh 238,571 |
| Year 12 | Ksh 309,768 | Ksh 617,851 | Ksh 190,232 |
| Year 13 | Ksh 364,970 | Ksh 639,950 | Ksh 135,030 |
| Year 14 | Ksh 428,010 | Ksh 654,212 | Ksh 71,990 |
| Year 15 | Ksh 500,000 | Ksh 659,523 | 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 172,461 in interest. See the Citibank N.A. Kenya version →