Ksh 1,000,000 loan at M-Oriental Bank for 20 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 14,040. Total cost: Ksh 3,369,662 (Ksh 2,369,662 interest).
Monthly repayment
Ksh 14,040
At 16.17% · 240 payments
Total repayment
Ksh 3,369,662
3.37× the borrowed amount
Total interest
Ksh 2,369,662
Ksh 131,067 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 7,309 | Ksh 161,174 | Ksh 992,691 |
| Year 2 | Ksh 15,892 | Ksh 321,075 | Ksh 984,108 |
| Year 3 | Ksh 25,970 | Ksh 479,480 | Ksh 974,030 |
| Year 4 | Ksh 37,804 | Ksh 636,129 | Ksh 962,196 |
| Year 5 | Ksh 51,700 | Ksh 790,716 | Ksh 948,300 |
| Year 6 | Ksh 68,017 | Ksh 942,882 | Ksh 931,983 |
| Year 7 | Ksh 87,177 | Ksh 1,092,205 | Ksh 912,823 |
| Year 8 | Ksh 109,676 | Ksh 1,238,189 | Ksh 890,324 |
| Year 9 | Ksh 136,095 | Ksh 1,380,253 | Ksh 863,905 |
| Year 10 | Ksh 167,117 | Ksh 1,517,714 | Ksh 832,883 |
| Year 11 | Ksh 203,544 | Ksh 1,649,770 | Ksh 796,456 |
| Year 12 | Ksh 246,318 | Ksh 1,775,479 | Ksh 753,682 |
| Year 13 | Ksh 296,545 | Ksh 1,893,735 | Ksh 703,455 |
| Year 14 | Ksh 355,524 | Ksh 2,003,239 | Ksh 644,476 |
| Year 15 | Ksh 424,779 | Ksh 2,102,467 | Ksh 575,221 |
| Year 16 | Ksh 506,102 | Ksh 2,189,628 | Ksh 493,898 |
| Year 17 | Ksh 601,593 | Ksh 2,262,619 | Ksh 398,407 |
| Year 18 | Ksh 713,723 | Ksh 2,318,972 | Ksh 286,277 |
| Year 19 | Ksh 845,391 | Ksh 2,355,788 | Ksh 154,609 |
| Year 20 | Ksh 1,000,000 | Ksh 2,369,662 | 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 20 years would run about Ksh 9,890/month — saving Ksh 996,077 in interest. See the Citibank N.A. Kenya version →