Ksh 10,000,000 loan at M-Oriental Bank for 15 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 148,057. Total cost: Ksh 26,650,269 (Ksh 16,650,269 interest).
Monthly repayment
Ksh 148,057
At 16.17% · 180 payments
Total repayment
Ksh 26,650,269
2.67× the borrowed amount
Total interest
Ksh 16,650,269
Ksh 913,050 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 172,067 | Ksh 1,604,617 | Ksh 9,827,933 |
| Year 2 | Ksh 374,115 | Ksh 3,179,254 | Ksh 9,625,885 |
| Year 3 | Ksh 611,368 | Ksh 4,718,686 | Ksh 9,388,632 |
| Year 4 | Ksh 889,960 | Ksh 6,216,779 | Ksh 9,110,040 |
| Year 5 | Ksh 1,217,093 | Ksh 7,666,331 | Ksh 8,782,907 |
| Year 6 | Ksh 1,601,225 | Ksh 9,058,883 | Ksh 8,398,775 |
| Year 7 | Ksh 2,052,288 | Ksh 10,384,505 | Ksh 7,947,712 |
| Year 8 | Ksh 2,581,944 | Ksh 11,631,533 | Ksh 7,418,056 |
| Year 9 | Ksh 3,203,886 | Ksh 12,786,276 | Ksh 6,796,114 |
| Year 10 | Ksh 3,934,195 | Ksh 13,832,651 | Ksh 6,065,805 |
| Year 11 | Ksh 4,791,752 | Ksh 14,751,778 | Ksh 5,208,248 |
| Year 12 | Ksh 5,798,730 | Ksh 15,521,486 | Ksh 4,201,270 |
| Year 13 | Ksh 6,981,162 | Ksh 16,115,739 | Ksh 3,018,838 |
| Year 14 | Ksh 8,369,619 | Ksh 16,503,966 | Ksh 1,630,381 |
| Year 15 | Ksh 10,000,000 | Ksh 16,650,269 | 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 10,000,000 loan over 15 years would run about Ksh 109,674/month — saving Ksh 6,909,030 in interest. See the Citibank N.A. Kenya version →