Ksh 2,000,000 loan at Middle East Bank for 25 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 2,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 33,359. Total cost: Ksh 10,007,550 (Ksh 8,007,550 interest).
Monthly repayment
Ksh 33,359
At 19.87% · 300 payments
Total repayment
Ksh 10,007,550
5.00× the borrowed amount
Total interest
Ksh 8,007,550
Ksh 2,117,172 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 3,181 | Ksh 397,121 | Ksh 1,996,819 |
| Year 2 | Ksh 7,056 | Ksh 793,548 | Ksh 1,992,944 |
| Year 3 | Ksh 11,774 | Ksh 1,189,132 | Ksh 1,988,226 |
| Year 4 | Ksh 17,521 | Ksh 1,583,687 | Ksh 1,982,479 |
| Year 5 | Ksh 24,519 | Ksh 1,976,991 | Ksh 1,975,481 |
| Year 6 | Ksh 33,041 | Ksh 2,368,771 | Ksh 1,966,959 |
| Year 7 | Ksh 43,420 | Ksh 2,758,694 | Ksh 1,956,580 |
| Year 8 | Ksh 56,059 | Ksh 3,146,357 | Ksh 1,943,941 |
| Year 9 | Ksh 71,452 | Ksh 3,531,266 | Ksh 1,928,548 |
| Year 10 | Ksh 90,198 | Ksh 3,912,822 | Ksh 1,909,802 |
| Year 11 | Ksh 113,028 | Ksh 4,290,294 | Ksh 1,886,972 |
| Year 12 | Ksh 140,831 | Ksh 4,662,793 | Ksh 1,859,169 |
| Year 13 | Ksh 174,690 | Ksh 5,029,236 | Ksh 1,825,310 |
| Year 14 | Ksh 215,924 | Ksh 5,388,304 | Ksh 1,784,076 |
| Year 15 | Ksh 266,141 | Ksh 5,738,389 | Ksh 1,733,859 |
| Year 16 | Ksh 327,297 | Ksh 6,077,535 | Ksh 1,672,703 |
| Year 17 | Ksh 401,774 | Ksh 6,403,360 | Ksh 1,598,226 |
| Year 18 | Ksh 492,475 | Ksh 6,712,961 | Ksh 1,507,525 |
| Year 19 | Ksh 602,933 | Ksh 7,002,804 | Ksh 1,397,067 |
| Year 20 | Ksh 737,454 | Ksh 7,268,586 | Ksh 1,262,546 |
| Year 21 | Ksh 901,277 | Ksh 7,505,065 | Ksh 1,098,723 |
| Year 22 | Ksh 1,100,786 | Ksh 7,705,858 | Ksh 899,214 |
| Year 23 | Ksh 1,343,754 | Ksh 7,863,192 | Ksh 656,246 |
| Year 24 | Ksh 1,639,649 | Ksh 7,967,599 | Ksh 360,351 |
| Year 25 | Ksh 2,000,000 | Ksh 8,007,550 | 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 25 years would run about Ksh 18,684/month — saving Ksh 4,402,347 in interest. See the Citibank N.A. Kenya version →