Ksh 10,000,000 loan at M-Oriental Bank for 5 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 244,085. Total cost: Ksh 14,645,086 (Ksh 4,645,086 interest).
Monthly repayment
Ksh 244,085
At 16.17% · 60 payments
Total repayment
Ksh 14,645,086
1.46× the borrowed amount
Total interest
Ksh 4,645,086
Ksh 232,177 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 1,413,757 | Ksh 1,515,260 | Ksh 8,586,243 |
| Year 2 | Ksh 3,073,845 | Ksh 2,784,189 | Ksh 6,926,155 |
| Year 3 | Ksh 5,023,186 | Ksh 3,763,866 | Ksh 4,976,814 |
| Year 4 | Ksh 7,312,177 | Ksh 4,403,891 | Ksh 2,687,823 |
| Year 5 | Ksh 10,000,000 | Ksh 4,645,086 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,790,318 in interest. See the Citibank N.A. Kenya version →