Ksh 1,000,000 loan at M-Oriental Bank for 25 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 13,722. Total cost: Ksh 4,116,741 (Ksh 3,116,741 interest).
Monthly repayment
Ksh 13,722
At 16.17% · 300 payments
Total repayment
Ksh 4,116,741
4.12× the borrowed amount
Total interest
Ksh 3,116,741
Ksh 171,551 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 3,200 | Ksh 161,470 | Ksh 996,800 |
| Year 2 | Ksh 6,957 | Ksh 322,382 | Ksh 993,043 |
| Year 3 | Ksh 11,370 | Ksh 482,639 | Ksh 988,631 |
| Year 4 | Ksh 16,550 | Ksh 642,128 | Ksh 983,450 |
| Year 5 | Ksh 22,634 | Ksh 800,714 | Ksh 977,366 |
| Year 6 | Ksh 29,778 | Ksh 958,240 | Ksh 970,222 |
| Year 7 | Ksh 38,166 | Ksh 1,114,521 | Ksh 961,834 |
| Year 8 | Ksh 48,016 | Ksh 1,269,341 | Ksh 951,984 |
| Year 9 | Ksh 59,582 | Ksh 1,422,445 | Ksh 940,418 |
| Year 10 | Ksh 73,163 | Ksh 1,573,533 | Ksh 926,837 |
| Year 11 | Ksh 89,111 | Ksh 1,722,255 | Ksh 910,889 |
| Year 12 | Ksh 107,838 | Ksh 1,868,198 | Ksh 892,162 |
| Year 13 | Ksh 129,827 | Ksh 2,010,878 | Ksh 870,173 |
| Year 14 | Ksh 155,648 | Ksh 2,149,727 | Ksh 844,352 |
| Year 15 | Ksh 185,968 | Ksh 2,284,076 | Ksh 814,032 |
| Year 16 | Ksh 221,571 | Ksh 2,413,143 | Ksh 778,429 |
| Year 17 | Ksh 263,377 | Ksh 2,536,007 | Ksh 736,623 |
| Year 18 | Ksh 312,467 | Ksh 2,651,586 | Ksh 687,533 |
| Year 19 | Ksh 370,111 | Ksh 2,758,612 | Ksh 629,889 |
| Year 20 | Ksh 437,799 | Ksh 2,855,593 | Ksh 562,201 |
| Year 21 | Ksh 517,281 | Ksh 2,940,782 | Ksh 482,719 |
| Year 22 | Ksh 610,611 | Ksh 3,012,121 | Ksh 389,389 |
| Year 23 | Ksh 720,203 | Ksh 3,067,198 | Ksh 279,797 |
| Year 24 | Ksh 848,890 | Ksh 3,103,181 | Ksh 151,110 |
| Year 25 | Ksh 1,000,000 | Ksh 3,116,741 | 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 25 years would run about Ksh 9,342/month — saving Ksh 1,314,139 in interest. See the Citibank N.A. Kenya version →