Ksh 10,000,000 loan at Development Bank of Kenya for 1 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 10,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 910,293. Total cost: Ksh 10,923,510 (Ksh 923,511 interest).
Monthly repayment
Ksh 910,293
At 16.63% · 12 payments
Total repayment
Ksh 10,923,510
1.09× the borrowed amount
Total interest
Ksh 923,511
Ksh 67,583 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 10,000,000 | Ksh 923,511 | 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 10,000,000 loan over 1 years would run about Ksh 880,834/month — saving Ksh 353,502 in interest. See the Citibank N.A. Kenya version →