Ksh 10,000,000 loan at Middle East Bank for 3 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 370,974. Total cost: Ksh 13,355,056 (Ksh 3,355,056 interest).
Monthly repayment
Ksh 370,974
At 19.87% · 36 payments
Total repayment
Ksh 13,355,056
1.34× the borrowed amount
Total interest
Ksh 3,355,056
Ksh 797,829 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 2,702,009 | Ksh 1,749,676 | Ksh 7,297,991 |
| Year 2 | Ksh 5,992,605 | Ksh 2,910,766 | Ksh 4,007,395 |
| Year 3 | Ksh 10,000,000 | Ksh 3,355,056 | 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 3 years would run about Ksh 324,365/month — saving Ksh 1,677,927 in interest. See the Citibank N.A. Kenya version →