Ksh 1,000,000 loan at Middle East Bank for 3 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 37,097. Total cost: Ksh 1,335,506 (Ksh 335,506 interest).
Monthly repayment
Ksh 37,097
At 19.87% · 36 payments
Total repayment
Ksh 1,335,506
1.34× the borrowed amount
Total interest
Ksh 335,506
Ksh 79,783 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 270,201 | Ksh 174,968 | Ksh 729,799 |
| Year 2 | Ksh 599,260 | Ksh 291,077 | Ksh 400,740 |
| Year 3 | Ksh 1,000,000 | Ksh 335,506 | 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 3 years would run about Ksh 32,436/month — saving Ksh 167,793 in interest. See the Citibank N.A. Kenya version →