Ksh 5,000,000 loan at Development Bank of Kenya for 2 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 246,323. Total cost: Ksh 5,911,760 (Ksh 911,760 interest).
Monthly repayment
Ksh 246,323
At 16.63% · 24 payments
Total repayment
Ksh 5,911,760
1.18× the borrowed amount
Total interest
Ksh 911,760
Ksh 68,245 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 2,294,020 | Ksh 661,860 | Ksh 2,705,980 |
| Year 2 | Ksh 5,000,000 | Ksh 911,760 | 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 5,000,000 loan over 2 years would run about Ksh 231,556/month — saving Ksh 354,408 in interest. See the Citibank N.A. Kenya version →