Mortgage Calculator Kenya 2026: Monthly Repayments and Total Interest
Type your loan amount, interest rate and term to see your monthly mortgage repayment and the total interest over the loan.
Rates checked 28 Oct 2026 against official sources (listed below).
Reducing balance: interest is charged on what you still owe.
Monthly repayment
KES 79,007
Total interest
KES 12,961,770
Total you repay
KES 18,961,770
| Year | Balance left |
|---|---|
| Year 1 (interest KES 896,552) | KES 5,948,464 |
| Year 2 (interest KES 888,268) | KES 5,888,643 |
| Year 3 (interest KES 878,651) | KES 5,819,205 |
| Year 4 (interest KES 867,489) | KES 5,738,605 |
| Year 5 (interest KES 854,532) | KES 5,645,049 |
| Year 6 (interest KES 839,492) | KES 5,536,452 |
| Year 7 (interest KES 822,035) | KES 5,410,399 |
| Year 8 (interest KES 801,771) | KES 5,264,081 |
| Year 9 (interest KES 778,250) | KES 5,094,243 |
| Year 10 (interest KES 750,948) | KES 4,897,102 |
| Year 11 (interest KES 719,256) | KES 4,668,270 |
| Year 12 (interest KES 682,471) | KES 4,402,652 |
| Year 13 (interest KES 639,771) | KES 4,094,335 |
| Year 14 (interest KES 590,208) | KES 3,736,454 |
| Year 15 (interest KES 532,677) | KES 3,321,043 |
| Year 16 (interest KES 465,898) | KES 2,838,852 |
| Year 17 (interest KES 388,383) | KES 2,279,147 |
| Year 18 (interest KES 298,408) | KES 1,629,467 |
| Year 19 (interest KES 193,969) | KES 875,347 |
| Year 20 (interest KES 72,741) | KES 0 |
Repayments use the reducing-balance method Kenyan banks use for mortgages. Figures exclude stamp duty on the charge, legal and valuation fees, and mortgage protection and building insurance, which are separate costs on top of your monthly repayment and vary by bank.
About this calculator
Kenyan banks price mortgages on reducing balance, using the Central Bank Rate (CBR) plus their own risk premium, so use the rate quoted on your own offer rather than a generic figure. Say you borrow KES 6,000,000 over 20 years.
At a typical market rate of around 15%, you'd pay about KES 79,000 a month and roughly KES 13.0 million in interest over the loan. The same loan through a KMRC-backed affordable mortgage at 9.5% comes to about KES 55,900 a month, saving over KES 5.5 million in interest.
How it's worked out
This calculator uses the reducing-balance (amortising) method that Kenyan banks use for mortgages: interest is charged only on what you still owe, so your monthly payment stays the same for the whole term (unless the rate changes), but more of each payment goes toward the principal as the balance shrinks.
Kenya's mortgage rates right now. Since 2023, banks price shilling loans using the Central Bank Rate (CBR) plus their own risk-based premium. The Monetary Policy Committee retained the CBR at 8.75% at its meeting on 7 October 2026 (Central Bank of Kenya). On the Kenya Bankers Association's Total Cost of Credit portal, the average mortgage rate (CBR plus each bank's own premium) ranged from about 13.3% at Absa and KCB to nearly 19% at HFC as of early-to-mid October 2026 (Kenya Bankers Association: Total Cost of Credit, checked 27 October 2026). Your own rate depends on your income, deposit and the bank's assessment of your risk, so use the rate on your actual offer, not an average.
KMRC-backed affordable mortgages are far cheaper, if you qualify. The Kenya Mortgage Refinance Company (KMRC) refinances banks and SACCOs that lend to qualifying buyers on homes up to KES 15 million, so they can charge 9.5% instead of the market rate. Co-operative Bank's KMRC product lends up to KES 10.5 million, up to 100% of the property price (Co-operative Bank, via Kenyans.co.ke, 21 August 2026). Standard Chartered and NCBA offer the same KMRC-backed rate through their own affordable housing products (Standard Chartered Kenya, checked 27 October 2026). Ask any bank offering a KMRC mortgage whether you qualify, since the income ceiling and loan cap have both moved over time.
Costs this calculator doesn't include:
- Stamp duty on the mortgage (the charge). Registering the bank's charge over your property attracts its own stamp duty, separate from the stamp duty you pay when you buy the property. KCB's own fee schedule lists this at 1% of the loan amount (KCB: Mortgage 102); ask your own bank for its figure, since it isn't the same at every lender.
- Legal and valuation fees. KCB's schedule charges a valuation fee of 1% of the first KES 2 million plus 0.25% of the rest, plus VAT and disbursements, and a legal fee from a minimum of KES 28,000 (same source). Other banks set their own scales.
- Mortgage protection and building insurance, which almost every bank requires. KCB prices mortgage protection cover at 0.42% of the loan for one borrower or 0.63% for two, plus a separate building insurance premium (same source).
Frequently asked questions
What is the average mortgage interest rate in Kenya right now?
Commercial banks disclosed average mortgage rates between about 13.3% (Absa, KCB) and almost 19% (HFC) in early-to-mid October 2026, built from the Central Bank Rate of 8.75% plus each bank's own premium (Kenya Bankers Association, checked 27 October 2026). Most major banks land between 13% and 17%. Ask your own bank for the rate on your specific offer, since your income, deposit and credit profile all move it.
What is the KMRC mortgage rate and who qualifies?
KMRC-backed affordable mortgages are priced at 9.5% through banks like Co-operative Bank, NCBA and Standard Chartered, well below the market average. Co-operative Bank's KMRC product lends up to KES 10.5 million on homes worth up to KES 15 million, up to 100% financing (Kenyans.co.ke, 21 August 2026). You generally need to be a qualifying buyer with a verifiable income, so ask your bank directly whether you qualify.
Does a longer loan term always mean a lower monthly payment?
Yes, but you pay more interest in total. Stretching a KES 6,000,000 loan at 15% from 20 to 25 years cuts the monthly payment from about KES 79,000 to about KES 76,850, but adds around KES 4 million in extra interest over the life of the loan.
What other costs do I pay on top of my mortgage repayment?
Stamp duty on the charge, legal and valuation fees, and mortgage protection and building insurance all come on top, and they vary by bank. On KCB's own schedule, the one-off fees alone can add several hundred thousand shillings to a multi-million shilling loan, so ask for a full cost breakdown before you sign.
Can I pay off my mortgage faster to save on interest?
Yes. Because interest is charged only on what you still owe, any extra you pay goes straight to the principal and cuts the interest for the rest of the term. Check with your bank first that there's no early-settlement penalty.
Will my mortgage repayment change if the Central Bank Rate changes?
Yes, if you're on a variable rate, which most Kenyan mortgages are. Your bank adjusts its lending rate after the Monetary Policy Committee moves the CBR, usually giving 30 days' notice, so your instalment can go up or down.