Ksh 1,000,000 loan at Development Bank of Kenya for 1 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 1,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 91,029. Total cost: Ksh 1,092,351 (Ksh 92,351 interest).
Monthly repayment
Ksh 91,029
At 16.63% · 12 payments
Total repayment
Ksh 1,092,351
1.09× the borrowed amount
Total interest
Ksh 92,351
Ksh 6,758 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 1,000,000 | Ksh 92,351 | 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 1,000,000 loan over 1 years would run about Ksh 88,083/month — saving Ksh 35,350 in interest. See the Citibank N.A. Kenya version →