Ksh 10,000,000 loan at Middle East Bank for 1 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 10,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 925,723. Total cost: Ksh 11,108,676 (Ksh 1,108,676 interest).
Monthly repayment
Ksh 925,723
At 19.87% · 12 payments
Total repayment
Ksh 11,108,676
1.11× the borrowed amount
Total interest
Ksh 1,108,676
Ksh 252,748 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 10,000,000 | Ksh 1,108,676 | 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 10,000,000 loan over 1 years would run about Ksh 880,834/month — saving Ksh 538,667 in interest. See the Citibank N.A. Kenya version →