Ksh 2,000,000 loan at Middle East Bank for 3 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 2,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 74,195. Total cost: Ksh 2,671,011 (Ksh 671,011 interest).
Monthly repayment
Ksh 74,195
At 19.87% · 36 payments
Total repayment
Ksh 2,671,011
1.34× the borrowed amount
Total interest
Ksh 671,011
Ksh 159,566 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 540,402 | Ksh 349,935 | Ksh 1,459,598 |
| Year 2 | Ksh 1,198,521 | Ksh 582,153 | Ksh 801,479 |
| Year 3 | Ksh 2,000,000 | Ksh 671,011 | 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 3 years would run about Ksh 64,873/month — saving Ksh 335,585 in interest. See the Citibank N.A. Kenya version →