Ksh 500,000 loan at Middle East Bank for 15 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 500,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 8,734. Total cost: Ksh 1,572,030 (Ksh 1,072,030 interest).
Monthly repayment
Ksh 8,734
At 19.87% · 180 payments
Total repayment
Ksh 1,572,030
3.14× the borrowed amount
Total interest
Ksh 1,072,030
Ksh 285,169 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 5,977 | Ksh 98,825 | Ksh 494,023 |
| Year 2 | Ksh 13,256 | Ksh 196,348 | Ksh 486,744 |
| Year 3 | Ksh 22,120 | Ksh 292,286 | Ksh 477,880 |
| Year 4 | Ksh 32,916 | Ksh 386,292 | Ksh 467,084 |
| Year 5 | Ksh 46,063 | Ksh 477,947 | Ksh 453,937 |
| Year 6 | Ksh 62,074 | Ksh 566,738 | Ksh 437,926 |
| Year 7 | Ksh 81,573 | Ksh 652,041 | Ksh 418,427 |
| Year 8 | Ksh 105,319 | Ksh 733,097 | Ksh 394,681 |
| Year 9 | Ksh 134,238 | Ksh 808,980 | Ksh 365,762 |
| Year 10 | Ksh 169,456 | Ksh 878,564 | Ksh 330,544 |
| Year 11 | Ksh 212,346 | Ksh 940,476 | Ksh 287,654 |
| Year 12 | Ksh 264,579 | Ksh 993,045 | Ksh 235,421 |
| Year 13 | Ksh 328,190 | Ksh 1,034,236 | Ksh 171,810 |
| Year 14 | Ksh 405,658 | Ksh 1,061,570 | Ksh 94,342 |
| Year 15 | Ksh 500,000 | Ksh 1,072,030 | 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 15 years would run about Ksh 5,484/month — saving Ksh 584,968 in interest. See the Citibank N.A. Kenya version →