Ksh 10,000,000 loan at Development Bank of Kenya for 5 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 246,541. Total cost: Ksh 14,792,438 (Ksh 4,792,438 interest).
Monthly repayment
Ksh 246,541
At 16.63% · 60 payments
Total repayment
Ksh 14,792,438
1.48× the borrowed amount
Total interest
Ksh 4,792,438
Ksh 379,529 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 1,398,937 | Ksh 1,559,550 | Ksh 8,601,063 |
| Year 2 | Ksh 3,049,096 | Ksh 2,867,879 | Ksh 6,950,904 |
| Year 3 | Ksh 4,995,589 | Ksh 3,879,874 | Ksh 5,004,411 |
| Year 4 | Ksh 7,291,633 | Ksh 4,542,317 | Ksh 2,708,367 |
| Year 5 | Ksh 10,000,000 | Ksh 4,792,438 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,937,670 in interest. See the Citibank N.A. Kenya version →