Ksh 5,000,000 loan at Development Bank of Kenya for 3 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 177,344. Total cost: Ksh 6,384,394 (Ksh 1,384,394 interest).
Monthly repayment
Ksh 177,344
At 16.63% · 36 payments
Total repayment
Ksh 6,384,394
1.28× the borrowed amount
Total interest
Ksh 1,384,394
Ksh 105,781 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 1,400,173 | Ksh 727,959 | Ksh 3,599,827 |
| Year 2 | Ksh 3,051,788 | Ksh 1,204,475 | Ksh 1,948,212 |
| Year 3 | Ksh 5,000,000 | Ksh 1,384,394 | 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 3 years would run about Ksh 162,182/month — saving Ksh 545,830 in interest. See the Citibank N.A. Kenya version →