Ksh 1,000,000 loan at Middle East Bank for 25 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 16,679. Total cost: Ksh 5,003,775 (Ksh 4,003,775 interest).
Monthly repayment
Ksh 16,679
At 19.87% · 300 payments
Total repayment
Ksh 5,003,775
5.00× the borrowed amount
Total interest
Ksh 4,003,775
Ksh 1,058,586 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 1,591 | Ksh 198,560 | Ksh 998,409 |
| Year 2 | Ksh 3,528 | Ksh 396,774 | Ksh 996,472 |
| Year 3 | Ksh 5,887 | Ksh 594,566 | Ksh 994,113 |
| Year 4 | Ksh 8,760 | Ksh 791,844 | Ksh 991,240 |
| Year 5 | Ksh 12,259 | Ksh 988,496 | Ksh 987,741 |
| Year 6 | Ksh 16,520 | Ksh 1,184,386 | Ksh 983,480 |
| Year 7 | Ksh 21,710 | Ksh 1,379,347 | Ksh 978,290 |
| Year 8 | Ksh 28,030 | Ksh 1,573,178 | Ksh 971,970 |
| Year 9 | Ksh 35,726 | Ksh 1,765,633 | Ksh 964,274 |
| Year 10 | Ksh 45,099 | Ksh 1,956,411 | Ksh 954,901 |
| Year 11 | Ksh 56,514 | Ksh 2,145,147 | Ksh 943,486 |
| Year 12 | Ksh 70,415 | Ksh 2,331,397 | Ksh 929,585 |
| Year 13 | Ksh 87,345 | Ksh 2,514,618 | Ksh 912,655 |
| Year 14 | Ksh 107,962 | Ksh 2,694,152 | Ksh 892,038 |
| Year 15 | Ksh 133,070 | Ksh 2,869,194 | Ksh 866,930 |
| Year 16 | Ksh 163,648 | Ksh 3,038,768 | Ksh 836,352 |
| Year 17 | Ksh 200,887 | Ksh 3,201,680 | Ksh 799,113 |
| Year 18 | Ksh 246,237 | Ksh 3,356,481 | Ksh 753,763 |
| Year 19 | Ksh 301,467 | Ksh 3,501,402 | Ksh 698,533 |
| Year 20 | Ksh 368,727 | Ksh 3,634,293 | Ksh 631,273 |
| Year 21 | Ksh 450,638 | Ksh 3,752,533 | Ksh 549,362 |
| Year 22 | Ksh 550,393 | Ksh 3,852,929 | Ksh 449,607 |
| Year 23 | Ksh 671,877 | Ksh 3,931,596 | Ksh 328,123 |
| Year 24 | Ksh 819,825 | Ksh 3,983,799 | Ksh 180,175 |
| Year 25 | Ksh 1,000,000 | Ksh 4,003,775 | 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 25 years would run about Ksh 9,342/month — saving Ksh 2,201,173 in interest. See the Citibank N.A. Kenya version →