Ksh 10,000,000 loan at M-Oriental Bank for 3 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 352,410. Total cost: Ksh 12,686,767 (Ksh 2,686,767 interest).
Monthly repayment
Ksh 352,410
At 16.17% · 36 payments
Total repayment
Ksh 12,686,767
1.27× the borrowed amount
Total interest
Ksh 2,686,767
Ksh 129,540 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 2,814,463 | Ksh 1,414,460 | Ksh 7,185,537 |
| Year 2 | Ksh 6,119,314 | Ksh 2,338,530 | Ksh 3,880,686 |
| Year 3 | Ksh 10,000,000 | Ksh 2,686,767 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,009,638 in interest. See the Citibank N.A. Kenya version →