Ksh 500,000 loan at M-Oriental Bank for 10 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 8,429. Total cost: Ksh 1,011,444 (Ksh 511,444 interest).
Monthly repayment
Ksh 8,429
At 16.17% · 120 payments
Total repayment
Ksh 1,011,444
2.02× the borrowed amount
Total interest
Ksh 511,444
Ksh 27,204 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 21,868 | Ksh 79,276 | Ksh 478,132 |
| Year 2 | Ksh 47,547 | Ksh 154,742 | Ksh 452,453 |
| Year 3 | Ksh 77,699 | Ksh 225,734 | Ksh 422,301 |
| Year 4 | Ksh 113,106 | Ksh 291,472 | Ksh 386,894 |
| Year 5 | Ksh 154,681 | Ksh 351,041 | Ksh 345,319 |
| Year 6 | Ksh 203,501 | Ksh 403,366 | Ksh 296,499 |
| Year 7 | Ksh 260,827 | Ksh 447,184 | Ksh 239,173 |
| Year 8 | Ksh 328,141 | Ksh 481,014 | Ksh 171,859 |
| Year 9 | Ksh 407,184 | Ksh 503,116 | Ksh 92,816 |
| Year 10 | Ksh 500,000 | Ksh 511,444 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 206,531 in interest. See the Citibank N.A. Kenya version →