Ksh 10,000,000 loan at Development Bank of Kenya for 3 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 354,689. Total cost: Ksh 12,768,789 (Ksh 2,768,788 interest).
Monthly repayment
Ksh 354,689
At 16.63% · 36 payments
Total repayment
Ksh 12,768,789
1.28× the borrowed amount
Total interest
Ksh 2,768,788
Ksh 211,561 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 2,800,345 | Ksh 1,455,917 | Ksh 7,199,655 |
| Year 2 | Ksh 6,103,576 | Ksh 2,408,950 | Ksh 3,896,424 |
| Year 3 | Ksh 10,000,000 | Ksh 2,768,788 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,091,659 in interest. See the Citibank N.A. Kenya version →