Before you sign a loan offer from I&M Bank, check the numbers. This I&M loan calculator estimates what you will repay each month and over the whole loan, using 2026 rate data.
I&M Bank Loan Calculator
| # | Installment | Principal | Interest | Balance |
|---|
I&M interest rates explained
Under CBK’s Risk-Based Credit Pricing Model, a variable-rate loan is priced as a reference rate (the Central Bank Rate, 8.75% as of October 2026, or KESONIA) plus a customer premium called “K”. Fees and charges come on top. CBK data shows I&M Bank lent at an average of 13.62% in August 2026, 0.72 percentage points below the sector-wide 14.34%. That places it 8th of 36 lenders by cost.
Getting an accurate estimate
The rate box is editable, so the more exact your input, the better the result. Use the figure from your I&M quotation if you have one, or keep the CBK average to get a rough idea. Compare a few terms, such as 12, 24 and 36 months, and watch how the monthly cost and the total interest move in opposite directions.
For example, KES 200,000 over 24 months at 13.62% on a reducing balance costs about KES 9,567 a month.
What you typically need
Expect to provide your national ID or passport, KRA PIN, payslips or six months of bank statements, and a clean credit bureau record. Secured facilities, such as car or property loans, need valuation and ownership documents too.
Reducing balance vs flat rate
The method matters as much as the headline rate. Take a 12-month loan at 14%: on a reducing balance, the interest shrinks every month as you pay down the principal. A flat rate charges 14% on the full original amount for the whole year, which makes the true cost much higher, close to double. Switch the method dropdown above to see the difference for your own I&M loan.
Tips for a cheaper loan
- Pay down existing debts first to improve your credit score.
- Offer security if you can, because secured loans usually carry lower premiums.
- Ask whether you can make early repayments without a penalty.
- Read the key facts document I&M gives you before you sign.
Frequently asked questions
Where does the 13.62% figure come from?
It is I&M Bank’s average lending rate for August 2026, as published by the Central Bank of Kenya, and was checked on 13 October 2026. Treat it as a guide and confirm it with the bank.
How can I pay less interest?
Borrow only what you need, choose the shortest term you can afford, and ask I&M for the APR and the total cost of credit so you can compare offers.
