Ksh 10,000,000 loan at Development Bank of Kenya for 15 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 151,286. Total cost: Ksh 27,231,448 (Ksh 17,231,447 interest).
Monthly repayment
Ksh 151,286
At 16.63% · 180 payments
Total repayment
Ksh 27,231,448
2.72× the borrowed amount
Total interest
Ksh 17,231,447
Ksh 1,494,228 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 164,602 | Ksh 1,650,828 | Ksh 9,835,398 |
| Year 2 | Ksh 358,763 | Ksh 3,272,097 | Ksh 9,641,237 |
| Year 3 | Ksh 587,792 | Ksh 4,858,498 | Ksh 9,412,208 |
| Year 4 | Ksh 857,949 | Ksh 6,403,770 | Ksh 9,142,051 |
| Year 5 | Ksh 1,176,621 | Ksh 7,900,528 | Ksh 8,823,379 |
| Year 6 | Ksh 1,552,521 | Ksh 9,340,058 | Ksh 8,447,479 |
| Year 7 | Ksh 1,995,924 | Ksh 10,712,085 | Ksh 8,004,076 |
| Year 8 | Ksh 2,518,953 | Ksh 12,004,485 | Ksh 7,481,047 |
| Year 9 | Ksh 3,135,908 | Ksh 13,202,960 | Ksh 6,864,092 |
| Year 10 | Ksh 3,863,656 | Ksh 14,290,643 | Ksh 6,136,344 |
| Year 11 | Ksh 4,722,092 | Ksh 15,247,636 | Ksh 5,277,908 |
| Year 12 | Ksh 5,734,686 | Ksh 16,050,472 | Ksh 4,265,314 |
| Year 13 | Ksh 6,929,121 | Ksh 16,671,467 | Ksh 3,070,879 |
| Year 14 | Ksh 8,338,053 | Ksh 17,077,965 | Ksh 1,661,947 |
| Year 15 | Ksh 10,000,000 | Ksh 17,231,447 | 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 15 years would run about Ksh 109,674/month — saving Ksh 7,490,208 in interest. See the Citibank N.A. Kenya version →