Ksh 10,000,000 loan at Middle East Bank for 10 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 192,395. Total cost: Ksh 23,087,344 (Ksh 13,087,343 interest).
Monthly repayment
Ksh 192,395
At 19.87% · 120 payments
Total repayment
Ksh 23,087,344
2.31× the borrowed amount
Total interest
Ksh 13,087,343
Ksh 3,402,539 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 352,714 | Ksh 1,956,020 | Ksh 9,647,286 |
| Year 2 | Ksh 782,261 | Ksh 3,835,208 | Ksh 9,217,739 |
| Year 3 | Ksh 1,305,377 | Ksh 5,620,826 | Ksh 8,694,623 |
| Year 4 | Ksh 1,942,445 | Ksh 7,292,493 | Ksh 8,057,555 |
| Year 5 | Ksh 2,718,287 | Ksh 8,825,385 | Ksh 7,281,713 |
| Year 6 | Ksh 3,663,133 | Ksh 10,189,273 | Ksh 6,336,867 |
| Year 7 | Ksh 4,813,797 | Ksh 11,347,343 | Ksh 5,186,203 |
| Year 8 | Ksh 6,215,114 | Ksh 12,254,760 | Ksh 3,784,886 |
| Year 9 | Ksh 7,921,684 | Ksh 12,856,925 | Ksh 2,078,316 |
| Year 10 | Ksh 10,000,000 | Ksh 13,087,343 | 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 10 years would run about Ksh 134,152/month — saving Ksh 6,989,068 in interest. See the Citibank N.A. Kenya version →