Ksh 500,000 loan at Development Bank of Kenya for 10 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,573. Total cost: Ksh 1,028,761 (Ksh 528,761 interest).
Monthly repayment
Ksh 8,573
At 16.63% · 120 payments
Total repayment
Ksh 1,028,761
2.06× the borrowed amount
Total interest
Ksh 528,761
Ksh 44,521 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 21,301 | Ksh 81,575 | Ksh 478,699 |
| Year 2 | Ksh 46,428 | Ksh 159,324 | Ksh 453,572 |
| Year 3 | Ksh 76,067 | Ksh 232,562 | Ksh 423,933 |
| Year 4 | Ksh 111,028 | Ksh 300,476 | Ksh 388,972 |
| Year 5 | Ksh 152,268 | Ksh 362,113 | Ksh 347,732 |
| Year 6 | Ksh 200,913 | Ksh 416,343 | Ksh 299,087 |
| Year 7 | Ksh 258,295 | Ksh 461,838 | Ksh 241,705 |
| Year 8 | Ksh 325,981 | Ksh 497,028 | Ksh 174,019 |
| Year 9 | Ksh 405,821 | Ksh 520,064 | Ksh 94,179 |
| Year 10 | Ksh 500,000 | Ksh 528,761 | 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 10 years would run about Ksh 6,708/month — saving Ksh 223,847 in interest. See the Citibank N.A. Kenya version →