Ksh 500,000 loan at Middle East Bank for 2 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 500,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 25,416. Total cost: Ksh 609,988 (Ksh 109,988 interest).
Monthly repayment
Ksh 25,416
At 19.87% · 24 payments
Total repayment
Ksh 609,988
1.22× the borrowed amount
Total interest
Ksh 109,988
Ksh 25,636 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 225,445 | Ksh 79,549 | Ksh 274,555 |
| Year 2 | Ksh 500,000 | Ksh 109,988 | 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 2 years would run about Ksh 23,156/month — saving Ksh 54,253 in interest. See the Citibank N.A. Kenya version →