Ksh 1,000,000 loan at Development Bank of Kenya for 10 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 17,146. Total cost: Ksh 2,057,522 (Ksh 1,057,522 interest).
Monthly repayment
Ksh 17,146
At 16.63% · 120 payments
Total repayment
Ksh 2,057,522
2.06× the borrowed amount
Total interest
Ksh 1,057,522
Ksh 89,042 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 42,603 | Ksh 163,150 | Ksh 957,397 |
| Year 2 | Ksh 92,856 | Ksh 318,649 | Ksh 907,144 |
| Year 3 | Ksh 152,134 | Ksh 465,123 | Ksh 847,866 |
| Year 4 | Ksh 222,056 | Ksh 600,953 | Ksh 777,944 |
| Year 5 | Ksh 304,536 | Ksh 724,225 | Ksh 695,464 |
| Year 6 | Ksh 401,827 | Ksh 832,687 | Ksh 598,173 |
| Year 7 | Ksh 516,589 | Ksh 923,676 | Ksh 483,411 |
| Year 8 | Ksh 651,961 | Ksh 994,057 | Ksh 348,039 |
| Year 9 | Ksh 811,643 | Ksh 1,040,127 | Ksh 188,357 |
| Year 10 | Ksh 1,000,000 | Ksh 1,057,522 | 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 10 years would run about Ksh 13,415/month — saving Ksh 447,695 in interest. See the Citibank N.A. Kenya version →