Ksh 10,000,000 loan at Middle East Bank for 5 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 264,216. Total cost: Ksh 15,852,961 (Ksh 5,852,961 interest).
Monthly repayment
Ksh 264,216
At 19.87% · 60 payments
Total repayment
Ksh 15,852,961
1.59× the borrowed amount
Total interest
Ksh 5,852,961
Ksh 1,440,052 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 1,297,560 | Ksh 1,873,032 | Ksh 8,702,440 |
| Year 2 | Ksh 2,877,771 | Ksh 3,463,413 | Ksh 7,122,229 |
| Year 3 | Ksh 4,802,204 | Ksh 4,709,573 | Ksh 5,197,796 |
| Year 4 | Ksh 7,145,841 | Ksh 5,536,527 | Ksh 2,854,159 |
| Year 5 | Ksh 10,000,000 | Ksh 5,852,961 | 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 5 years would run about Ksh 214,246/month — saving Ksh 2,998,193 in interest. See the Citibank N.A. Kenya version →