Ksh 10,000,000 loan at Middle East Bank for 20 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 10,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 168,863. Total cost: Ksh 40,527,031 (Ksh 30,527,031 interest).
Monthly repayment
Ksh 168,863
At 19.87% · 240 payments
Total repayment
Ksh 40,527,031
4.05× the borrowed amount
Total interest
Ksh 30,527,031
Ksh 8,141,084 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 43,141 | Ksh 1,983,211 | Ksh 9,956,859 |
| Year 2 | Ksh 95,679 | Ksh 3,957,024 | Ksh 9,904,321 |
| Year 3 | Ksh 159,661 | Ksh 5,919,393 | Ksh 9,840,339 |
| Year 4 | Ksh 237,582 | Ksh 7,867,824 | Ksh 9,762,418 |
| Year 5 | Ksh 332,475 | Ksh 9,799,282 | Ksh 9,667,525 |
| Year 6 | Ksh 448,040 | Ksh 11,710,069 | Ksh 9,551,960 |
| Year 7 | Ksh 588,779 | Ksh 13,595,682 | Ksh 9,411,221 |
| Year 8 | Ksh 760,175 | Ksh 15,450,638 | Ksh 9,239,825 |
| Year 9 | Ksh 968,906 | Ksh 17,268,258 | Ksh 9,031,094 |
| Year 10 | Ksh 1,223,106 | Ksh 19,040,409 | Ksh 8,776,894 |
| Year 11 | Ksh 1,532,680 | Ksh 20,757,187 | Ksh 8,467,320 |
| Year 12 | Ksh 1,909,688 | Ksh 22,406,530 | Ksh 8,090,312 |
| Year 13 | Ksh 2,368,822 | Ksh 23,973,748 | Ksh 7,631,178 |
| Year 14 | Ksh 2,927,969 | Ksh 25,440,952 | Ksh 7,072,031 |
| Year 15 | Ksh 3,608,918 | Ksh 26,786,355 | Ksh 6,391,082 |
| Year 16 | Ksh 4,438,199 | Ksh 27,983,425 | Ksh 5,561,801 |
| Year 17 | Ksh 5,448,125 | Ksh 28,999,851 | Ksh 4,551,875 |
| Year 18 | Ksh 6,678,046 | Ksh 29,796,282 | Ksh 3,321,954 |
| Year 19 | Ksh 8,175,884 | Ksh 30,324,795 | Ksh 1,824,116 |
| Year 20 | Ksh 10,000,000 | Ksh 30,527,031 | 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 20 years would run about Ksh 98,899/month — saving Ksh 16,791,188 in interest. See the Citibank N.A. Kenya version →