Ksh 500,000 loan at Middle East Bank for 10 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 500,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 9,620. Total cost: Ksh 1,154,368 (Ksh 654,367 interest).
Monthly repayment
Ksh 9,620
At 19.87% · 120 payments
Total repayment
Ksh 1,154,368
2.31× the borrowed amount
Total interest
Ksh 654,367
Ksh 170,127 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 17,636 | Ksh 97,801 | Ksh 482,364 |
| Year 2 | Ksh 39,113 | Ksh 191,760 | Ksh 460,887 |
| Year 3 | Ksh 65,269 | Ksh 281,041 | Ksh 434,731 |
| Year 4 | Ksh 97,122 | Ksh 364,625 | Ksh 402,878 |
| Year 5 | Ksh 135,914 | Ksh 441,269 | Ksh 364,086 |
| Year 6 | Ksh 183,157 | Ksh 509,464 | Ksh 316,843 |
| Year 7 | Ksh 240,690 | Ksh 567,367 | Ksh 259,310 |
| Year 8 | Ksh 310,756 | Ksh 612,738 | Ksh 189,244 |
| Year 9 | Ksh 396,084 | Ksh 642,846 | Ksh 103,916 |
| Year 10 | Ksh 500,000 | Ksh 654,367 | 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 500,000 loan over 10 years would run about Ksh 6,708/month — saving Ksh 349,453 in interest. See the Citibank N.A. Kenya version →