Ksh 1,000,000 loan at Middle East Bank for 15 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 17,467. Total cost: Ksh 3,144,060 (Ksh 2,144,060 interest).
Monthly repayment
Ksh 17,467
At 19.87% · 180 payments
Total repayment
Ksh 3,144,060
3.14× the borrowed amount
Total interest
Ksh 2,144,060
Ksh 570,338 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 11,954 | Ksh 197,650 | Ksh 988,046 |
| Year 2 | Ksh 26,512 | Ksh 392,696 | Ksh 973,488 |
| Year 3 | Ksh 44,241 | Ksh 584,571 | Ksh 955,759 |
| Year 4 | Ksh 65,832 | Ksh 772,584 | Ksh 934,168 |
| Year 5 | Ksh 92,126 | Ksh 955,894 | Ksh 907,874 |
| Year 6 | Ksh 124,148 | Ksh 1,133,476 | Ksh 875,852 |
| Year 7 | Ksh 163,145 | Ksh 1,304,082 | Ksh 836,855 |
| Year 8 | Ksh 210,638 | Ksh 1,466,194 | Ksh 789,362 |
| Year 9 | Ksh 268,476 | Ksh 1,617,960 | Ksh 731,524 |
| Year 10 | Ksh 338,912 | Ksh 1,757,127 | Ksh 661,088 |
| Year 11 | Ksh 424,692 | Ksh 1,880,951 | Ksh 575,308 |
| Year 12 | Ksh 529,158 | Ksh 1,986,089 | Ksh 470,842 |
| Year 13 | Ksh 656,380 | Ksh 2,068,472 | Ksh 343,620 |
| Year 14 | Ksh 811,315 | Ksh 2,123,141 | Ksh 188,685 |
| Year 15 | Ksh 1,000,000 | Ksh 2,144,060 | 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 15 years would run about Ksh 10,967/month — saving Ksh 1,169,936 in interest. See the Citibank N.A. Kenya version →