Ksh 1,000,000 loan at M-Oriental Bank for 10 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,857. Total cost: Ksh 2,022,889 (Ksh 1,022,889 interest).
Monthly repayment
Ksh 16,857
At 16.17% · 120 payments
Total repayment
Ksh 2,022,889
2.02× the borrowed amount
Total interest
Ksh 1,022,889
Ksh 54,409 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 43,736 | Ksh 158,553 | Ksh 956,264 |
| Year 2 | Ksh 95,093 | Ksh 309,485 | Ksh 904,907 |
| Year 3 | Ksh 155,399 | Ksh 451,468 | Ksh 844,601 |
| Year 4 | Ksh 226,211 | Ksh 582,944 | Ksh 773,789 |
| Year 5 | Ksh 309,363 | Ksh 702,082 | Ksh 690,637 |
| Year 6 | Ksh 407,002 | Ksh 806,731 | Ksh 592,998 |
| Year 7 | Ksh 521,654 | Ksh 894,368 | Ksh 478,346 |
| Year 8 | Ksh 656,283 | Ksh 962,029 | Ksh 343,717 |
| Year 9 | Ksh 814,369 | Ksh 1,006,231 | Ksh 185,631 |
| Year 10 | Ksh 1,000,000 | Ksh 1,022,889 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 413,061 in interest. See the Citibank N.A. Kenya version →