Ksh 1,000,000 loan at Development Bank of Kenya for 15 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 15,129. Total cost: Ksh 2,723,144 (Ksh 1,723,145 interest).
Monthly repayment
Ksh 15,129
At 16.63% · 180 payments
Total repayment
Ksh 2,723,144
2.72× the borrowed amount
Total interest
Ksh 1,723,145
Ksh 149,423 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 16,460 | Ksh 165,083 | Ksh 983,540 |
| Year 2 | Ksh 35,876 | Ksh 327,210 | Ksh 964,124 |
| Year 3 | Ksh 58,779 | Ksh 485,850 | Ksh 941,221 |
| Year 4 | Ksh 85,795 | Ksh 640,377 | Ksh 914,205 |
| Year 5 | Ksh 117,662 | Ksh 790,053 | Ksh 882,338 |
| Year 6 | Ksh 155,252 | Ksh 934,006 | Ksh 844,748 |
| Year 7 | Ksh 199,592 | Ksh 1,071,208 | Ksh 800,408 |
| Year 8 | Ksh 251,895 | Ksh 1,200,449 | Ksh 748,105 |
| Year 9 | Ksh 313,591 | Ksh 1,320,296 | Ksh 686,409 |
| Year 10 | Ksh 386,366 | Ksh 1,429,064 | Ksh 613,634 |
| Year 11 | Ksh 472,209 | Ksh 1,524,764 | Ksh 527,791 |
| Year 12 | Ksh 573,469 | Ksh 1,605,047 | Ksh 426,531 |
| Year 13 | Ksh 692,912 | Ksh 1,667,147 | Ksh 307,088 |
| Year 14 | Ksh 833,805 | Ksh 1,707,796 | Ksh 166,195 |
| Year 15 | Ksh 1,000,000 | Ksh 1,723,145 | 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 15 years would run about Ksh 10,967/month — saving Ksh 749,021 in interest. See the Citibank N.A. Kenya version →