Ksh 2,000,000 loan at M-Oriental Bank for 10 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 33,715. Total cost: Ksh 4,045,778 (Ksh 2,045,778 interest).
Monthly repayment
Ksh 33,715
At 16.17% · 120 payments
Total repayment
Ksh 4,045,778
2.02× the borrowed amount
Total interest
Ksh 2,045,778
Ksh 108,817 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 87,473 | Ksh 317,105 | Ksh 1,912,527 |
| Year 2 | Ksh 190,187 | Ksh 618,969 | Ksh 1,809,813 |
| Year 3 | Ksh 310,797 | Ksh 902,936 | Ksh 1,689,203 |
| Year 4 | Ksh 452,423 | Ksh 1,165,888 | Ksh 1,547,577 |
| Year 5 | Ksh 618,725 | Ksh 1,404,164 | Ksh 1,381,275 |
| Year 6 | Ksh 814,004 | Ksh 1,613,463 | Ksh 1,185,996 |
| Year 7 | Ksh 1,043,308 | Ksh 1,788,737 | Ksh 956,692 |
| Year 8 | Ksh 1,312,565 | Ksh 1,924,057 | Ksh 687,435 |
| Year 9 | Ksh 1,628,738 | Ksh 2,012,462 | Ksh 371,262 |
| Year 10 | Ksh 2,000,000 | Ksh 2,045,778 | 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 2,000,000 loan over 10 years would run about Ksh 26,830/month — saving Ksh 826,123 in interest. See the Citibank N.A. Kenya version →