Ksh 5,000,000 loan at Development Bank of Kenya for 5 years.
At Development Bank of Kenya's current lending rate of 16.63%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 123,270. Total cost: Ksh 7,396,219 (Ksh 2,396,219 interest).
Monthly repayment
Ksh 123,270
At 16.63% · 60 payments
Total repayment
Ksh 7,396,219
1.48× the borrowed amount
Total interest
Ksh 2,396,219
Ksh 189,764 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 699,469 | Ksh 779,775 | Ksh 4,300,531 |
| Year 2 | Ksh 1,524,548 | Ksh 1,433,940 | Ksh 3,475,452 |
| Year 3 | Ksh 2,497,795 | Ksh 1,939,937 | Ksh 2,502,205 |
| Year 4 | Ksh 3,645,817 | Ksh 2,271,159 | Ksh 1,354,183 |
| Year 5 | Ksh 5,000,000 | Ksh 2,396,219 | 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 5 years would run about Ksh 107,123/month — saving Ksh 968,835 in interest. See the Citibank N.A. Kenya version →