Ksh 2,000,000 loan at Development Bank of Kenya for 3 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 70,938. Total cost: Ksh 2,553,758 (Ksh 553,758 interest).
Monthly repayment
Ksh 70,938
At 16.63% · 36 payments
Total repayment
Ksh 2,553,758
1.28× the borrowed amount
Total interest
Ksh 553,758
Ksh 42,312 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 560,069 | Ksh 291,183 | Ksh 1,439,931 |
| Year 2 | Ksh 1,220,715 | Ksh 481,790 | Ksh 779,285 |
| Year 3 | Ksh 2,000,000 | Ksh 553,758 | 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 3 years would run about Ksh 64,873/month — saving Ksh 218,332 in interest. See the Citibank N.A. Kenya version →