Ksh 10,000,000 loan at Middle East Bank for 15 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 174,670. Total cost: Ksh 31,440,595 (Ksh 21,440,595 interest).
Monthly repayment
Ksh 174,670
At 19.87% · 180 payments
Total repayment
Ksh 31,440,595
3.14× the borrowed amount
Total interest
Ksh 21,440,595
Ksh 5,703,376 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 119,539 | Ksh 1,976,501 | Ksh 9,880,461 |
| Year 2 | Ksh 265,118 | Ksh 3,926,962 | Ksh 9,734,882 |
| Year 3 | Ksh 442,408 | Ksh 5,845,711 | Ksh 9,557,592 |
| Year 4 | Ksh 658,318 | Ksh 7,725,841 | Ksh 9,341,682 |
| Year 5 | Ksh 921,261 | Ksh 9,558,938 | Ksh 9,078,739 |
| Year 6 | Ksh 1,241,481 | Ksh 11,334,758 | Ksh 8,758,519 |
| Year 7 | Ksh 1,631,455 | Ksh 13,040,823 | Ksh 8,368,545 |
| Year 8 | Ksh 2,106,378 | Ksh 14,661,939 | Ksh 7,893,622 |
| Year 9 | Ksh 2,684,756 | Ksh 16,179,602 | Ksh 7,315,244 |
| Year 10 | Ksh 3,389,122 | Ksh 17,571,275 | Ksh 6,610,878 |
| Year 11 | Ksh 4,246,923 | Ksh 18,809,513 | Ksh 5,753,077 |
| Year 12 | Ksh 5,291,582 | Ksh 19,860,895 | Ksh 4,708,418 |
| Year 13 | Ksh 6,563,801 | Ksh 20,684,715 | Ksh 3,436,199 |
| Year 14 | Ksh 8,113,151 | Ksh 21,231,405 | Ksh 1,886,849 |
| Year 15 | Ksh 10,000,000 | Ksh 21,440,595 | 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 15 years would run about Ksh 109,674/month — saving Ksh 11,699,356 in interest. See the Citibank N.A. Kenya version →