Ksh 1,000,000 loan at Middle East Bank for 10 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 19,239. Total cost: Ksh 2,308,734 (Ksh 1,308,734 interest).
Monthly repayment
Ksh 19,239
At 19.87% · 120 payments
Total repayment
Ksh 2,308,734
2.31× the borrowed amount
Total interest
Ksh 1,308,734
Ksh 340,254 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 35,271 | Ksh 195,602 | Ksh 964,729 |
| Year 2 | Ksh 78,226 | Ksh 383,521 | Ksh 921,774 |
| Year 3 | Ksh 130,538 | Ksh 562,083 | Ksh 869,462 |
| Year 4 | Ksh 194,244 | Ksh 729,249 | Ksh 805,756 |
| Year 5 | Ksh 271,829 | Ksh 882,538 | Ksh 728,171 |
| Year 6 | Ksh 366,313 | Ksh 1,018,927 | Ksh 633,687 |
| Year 7 | Ksh 481,380 | Ksh 1,134,734 | Ksh 518,620 |
| Year 8 | Ksh 621,511 | Ksh 1,225,476 | Ksh 378,489 |
| Year 9 | Ksh 792,168 | Ksh 1,285,693 | Ksh 207,832 |
| Year 10 | Ksh 1,000,000 | Ksh 1,308,734 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 698,907 in interest. See the Citibank N.A. Kenya version →