Ksh 1,000,000 loan at M-Oriental Bank for 15 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 14,806. Total cost: Ksh 2,665,028 (Ksh 1,665,027 interest).
Monthly repayment
Ksh 14,806
At 16.17% · 180 payments
Total repayment
Ksh 2,665,028
2.67× the borrowed amount
Total interest
Ksh 1,665,027
Ksh 91,305 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 17,207 | Ksh 160,462 | Ksh 982,793 |
| Year 2 | Ksh 37,412 | Ksh 317,925 | Ksh 962,588 |
| Year 3 | Ksh 61,137 | Ksh 471,869 | Ksh 938,863 |
| Year 4 | Ksh 88,996 | Ksh 621,678 | Ksh 911,004 |
| Year 5 | Ksh 121,709 | Ksh 766,633 | Ksh 878,291 |
| Year 6 | Ksh 160,122 | Ksh 905,888 | Ksh 839,878 |
| Year 7 | Ksh 205,229 | Ksh 1,038,450 | Ksh 794,771 |
| Year 8 | Ksh 258,194 | Ksh 1,163,153 | Ksh 741,806 |
| Year 9 | Ksh 320,389 | Ksh 1,278,628 | Ksh 679,611 |
| Year 10 | Ksh 393,420 | Ksh 1,383,265 | Ksh 606,580 |
| Year 11 | Ksh 479,175 | Ksh 1,475,178 | Ksh 520,825 |
| Year 12 | Ksh 579,873 | Ksh 1,552,149 | Ksh 420,127 |
| Year 13 | Ksh 698,116 | Ksh 1,611,574 | Ksh 301,884 |
| Year 14 | Ksh 836,962 | Ksh 1,650,397 | Ksh 163,038 |
| Year 15 | Ksh 1,000,000 | Ksh 1,665,027 | 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 15 years would run about Ksh 10,967/month — saving Ksh 690,903 in interest. See the Citibank N.A. Kenya version →