Ksh 500,000 loan at Development Bank of Kenya for 1 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 500,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 45,515. Total cost: Ksh 546,176 (Ksh 46,176 interest).
Monthly repayment
Ksh 45,515
At 16.63% · 12 payments
Total repayment
Ksh 546,176
1.09× the borrowed amount
Total interest
Ksh 46,176
Ksh 3,379 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 500,000 | Ksh 46,176 | 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 500,000 loan over 1 years would run about Ksh 44,042/month — saving Ksh 17,675 in interest. See the Citibank N.A. Kenya version →