Ksh 1,000,000 loan at Development Bank of Kenya for 3 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 35,469. Total cost: Ksh 1,276,879 (Ksh 276,879 interest).
Monthly repayment
Ksh 35,469
At 16.63% · 36 payments
Total repayment
Ksh 1,276,879
1.28× the borrowed amount
Total interest
Ksh 276,879
Ksh 21,156 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 280,035 | Ksh 145,592 | Ksh 719,965 |
| Year 2 | Ksh 610,358 | Ksh 240,895 | Ksh 389,642 |
| Year 3 | Ksh 1,000,000 | Ksh 276,879 | 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 3 years would run about Ksh 32,436/month — saving Ksh 109,166 in interest. See the Citibank N.A. Kenya version →