Ksh 1,000,000 loan at Development Bank of Kenya for 5 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 24,654. Total cost: Ksh 1,479,244 (Ksh 479,244 interest).
Monthly repayment
Ksh 24,654
At 16.63% · 60 payments
Total repayment
Ksh 1,479,244
1.48× the borrowed amount
Total interest
Ksh 479,244
Ksh 37,953 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 139,894 | Ksh 155,955 | Ksh 860,106 |
| Year 2 | Ksh 304,910 | Ksh 286,788 | Ksh 695,090 |
| Year 3 | Ksh 499,559 | Ksh 387,987 | Ksh 500,441 |
| Year 4 | Ksh 729,163 | Ksh 454,232 | Ksh 270,837 |
| Year 5 | Ksh 1,000,000 | Ksh 479,244 | 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 5 years would run about Ksh 21,425/month — saving Ksh 193,767 in interest. See the Citibank N.A. Kenya version →