Ksh 10,000,000 loan at Middle East Bank for 2 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 10,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 508,323. Total cost: Ksh 12,199,756 (Ksh 2,199,756 interest).
Monthly repayment
Ksh 508,323
At 19.87% · 24 payments
Total repayment
Ksh 12,199,756
1.22× the borrowed amount
Total interest
Ksh 2,199,756
Ksh 512,726 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 4,508,906 | Ksh 1,590,972 | Ksh 5,491,094 |
| Year 2 | Ksh 10,000,000 | Ksh 2,199,756 | 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 2 years would run about Ksh 463,113/month — saving Ksh 1,085,054 in interest. See the Citibank N.A. Kenya version →