Ksh 2,000,000 loan at Development Bank of Kenya for 2 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 2,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 98,529. Total cost: Ksh 2,364,704 (Ksh 364,704 interest).
Monthly repayment
Ksh 98,529
At 16.63% · 24 payments
Total repayment
Ksh 2,364,704
1.18× the borrowed amount
Total interest
Ksh 364,704
Ksh 27,298 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 917,608 | Ksh 264,744 | Ksh 1,082,392 |
| Year 2 | Ksh 2,000,000 | Ksh 364,704 | 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 2,000,000 loan over 2 years would run about Ksh 92,623/month — saving Ksh 141,763 in interest. See the Citibank N.A. Kenya version →