Ksh 10,000,000 loan at Development Bank of Kenya for 2 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 492,647. Total cost: Ksh 11,823,519 (Ksh 1,823,519 interest).
Monthly repayment
Ksh 492,647
At 16.63% · 24 payments
Total repayment
Ksh 11,823,519
1.18× the borrowed amount
Total interest
Ksh 1,823,519
Ksh 136,489 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 4,588,040 | Ksh 1,323,719 | Ksh 5,411,960 |
| Year 2 | Ksh 10,000,000 | Ksh 1,823,519 | 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 2 years would run about Ksh 463,113/month — saving Ksh 708,817 in interest. See the Citibank N.A. Kenya version →