Ksh 500,000 loan at M-Oriental Bank for 20 years.
At M-Oriental Bank's current lending rate of 16.17%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 7,020. Total cost: Ksh 1,684,831 (Ksh 1,184,831 interest).
Monthly repayment
Ksh 7,020
At 16.17% · 240 payments
Total repayment
Ksh 1,684,831
3.37× the borrowed amount
Total interest
Ksh 1,184,831
Ksh 65,533 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 3,655 | Ksh 80,587 | Ksh 496,345 |
| Year 2 | Ksh 7,946 | Ksh 160,537 | Ksh 492,054 |
| Year 3 | Ksh 12,985 | Ksh 239,740 | Ksh 487,015 |
| Year 4 | Ksh 18,902 | Ksh 318,064 | Ksh 481,098 |
| Year 5 | Ksh 25,850 | Ksh 395,358 | Ksh 474,150 |
| Year 6 | Ksh 34,008 | Ksh 471,441 | Ksh 465,992 |
| Year 7 | Ksh 43,588 | Ksh 546,102 | Ksh 456,412 |
| Year 8 | Ksh 54,838 | Ksh 619,094 | Ksh 445,162 |
| Year 9 | Ksh 68,047 | Ksh 690,127 | Ksh 431,953 |
| Year 10 | Ksh 83,558 | Ksh 758,857 | Ksh 416,442 |
| Year 11 | Ksh 101,772 | Ksh 824,885 | Ksh 398,228 |
| Year 12 | Ksh 123,159 | Ksh 887,739 | Ksh 376,841 |
| Year 13 | Ksh 148,273 | Ksh 946,867 | Ksh 351,727 |
| Year 14 | Ksh 177,762 | Ksh 1,001,619 | Ksh 322,238 |
| Year 15 | Ksh 212,390 | Ksh 1,051,233 | Ksh 287,610 |
| Year 16 | Ksh 253,051 | Ksh 1,094,814 | Ksh 246,949 |
| Year 17 | Ksh 300,797 | Ksh 1,131,309 | Ksh 199,203 |
| Year 18 | Ksh 356,862 | Ksh 1,159,486 | Ksh 143,138 |
| Year 19 | Ksh 422,695 | Ksh 1,177,894 | Ksh 77,305 |
| Year 20 | Ksh 500,000 | Ksh 1,184,831 | 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 20 years would run about Ksh 4,945/month — saving Ksh 498,039 in interest. See the Citibank N.A. Kenya version →