Ksh 1,000,000 loan at Middle East Bank for 20 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 16,886. Total cost: Ksh 4,052,702 (Ksh 3,052,703 interest).
Monthly repayment
Ksh 16,886
At 19.87% · 240 payments
Total repayment
Ksh 4,052,702
4.05× the borrowed amount
Total interest
Ksh 3,052,703
Ksh 814,108 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 4,314 | Ksh 198,321 | Ksh 995,686 |
| Year 2 | Ksh 9,568 | Ksh 395,702 | Ksh 990,432 |
| Year 3 | Ksh 15,966 | Ksh 591,939 | Ksh 984,034 |
| Year 4 | Ksh 23,758 | Ksh 786,782 | Ksh 976,242 |
| Year 5 | Ksh 33,248 | Ksh 979,928 | Ksh 966,752 |
| Year 6 | Ksh 44,804 | Ksh 1,171,007 | Ksh 955,196 |
| Year 7 | Ksh 58,878 | Ksh 1,359,568 | Ksh 941,122 |
| Year 8 | Ksh 76,017 | Ksh 1,545,064 | Ksh 923,983 |
| Year 9 | Ksh 96,891 | Ksh 1,726,826 | Ksh 903,109 |
| Year 10 | Ksh 122,311 | Ksh 1,904,041 | Ksh 877,689 |
| Year 11 | Ksh 153,268 | Ksh 2,075,719 | Ksh 846,732 |
| Year 12 | Ksh 190,969 | Ksh 2,240,653 | Ksh 809,031 |
| Year 13 | Ksh 236,882 | Ksh 2,397,375 | Ksh 763,118 |
| Year 14 | Ksh 292,797 | Ksh 2,544,095 | Ksh 707,203 |
| Year 15 | Ksh 360,892 | Ksh 2,678,636 | Ksh 639,108 |
| Year 16 | Ksh 443,820 | Ksh 2,798,343 | Ksh 556,180 |
| Year 17 | Ksh 544,813 | Ksh 2,899,985 | Ksh 455,188 |
| Year 18 | Ksh 667,805 | Ksh 2,979,628 | Ksh 332,195 |
| Year 19 | Ksh 817,588 | Ksh 3,032,480 | Ksh 182,412 |
| Year 20 | Ksh 1,000,000 | Ksh 3,052,703 | 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 20 years would run about Ksh 9,890/month — saving Ksh 1,679,119 in interest. See the Citibank N.A. Kenya version →