Ksh 2,000,000 loan at Middle East Bank for 15 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 2,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 34,934. Total cost: Ksh 6,288,118 (Ksh 4,288,119 interest).
Monthly repayment
Ksh 34,934
At 19.87% · 180 payments
Total repayment
Ksh 6,288,118
3.14× the borrowed amount
Total interest
Ksh 4,288,119
Ksh 1,140,675 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 23,908 | Ksh 395,300 | Ksh 1,976,092 |
| Year 2 | Ksh 53,024 | Ksh 785,392 | Ksh 1,946,976 |
| Year 3 | Ksh 88,482 | Ksh 1,169,142 | Ksh 1,911,518 |
| Year 4 | Ksh 131,664 | Ksh 1,545,168 | Ksh 1,868,336 |
| Year 5 | Ksh 184,252 | Ksh 1,911,788 | Ksh 1,815,748 |
| Year 6 | Ksh 248,296 | Ksh 2,266,952 | Ksh 1,751,704 |
| Year 7 | Ksh 326,291 | Ksh 2,608,165 | Ksh 1,673,709 |
| Year 8 | Ksh 421,276 | Ksh 2,932,388 | Ksh 1,578,724 |
| Year 9 | Ksh 536,951 | Ksh 3,235,920 | Ksh 1,463,049 |
| Year 10 | Ksh 677,824 | Ksh 3,514,255 | Ksh 1,322,176 |
| Year 11 | Ksh 849,385 | Ksh 3,761,903 | Ksh 1,150,615 |
| Year 12 | Ksh 1,058,316 | Ksh 3,972,179 | Ksh 941,684 |
| Year 13 | Ksh 1,312,760 | Ksh 4,136,943 | Ksh 687,240 |
| Year 14 | Ksh 1,622,630 | Ksh 4,246,281 | Ksh 377,370 |
| Year 15 | Ksh 2,000,000 | Ksh 4,288,119 | 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 2,000,000 loan over 15 years would run about Ksh 21,935/month — saving Ksh 2,339,871 in interest. See the Citibank N.A. Kenya version →