Ksh 500,000 loan at Middle East Bank for 20 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 500,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 8,443. Total cost: Ksh 2,026,351 (Ksh 1,526,352 interest).
Monthly repayment
Ksh 8,443
At 19.87% · 240 payments
Total repayment
Ksh 2,026,351
4.05× the borrowed amount
Total interest
Ksh 1,526,352
Ksh 407,054 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 2,157 | Ksh 99,161 | Ksh 497,843 |
| Year 2 | Ksh 4,784 | Ksh 197,851 | Ksh 495,216 |
| Year 3 | Ksh 7,983 | Ksh 295,970 | Ksh 492,017 |
| Year 4 | Ksh 11,879 | Ksh 393,391 | Ksh 488,121 |
| Year 5 | Ksh 16,624 | Ksh 489,964 | Ksh 483,376 |
| Year 6 | Ksh 22,402 | Ksh 585,503 | Ksh 477,598 |
| Year 7 | Ksh 29,439 | Ksh 679,784 | Ksh 470,561 |
| Year 8 | Ksh 38,009 | Ksh 772,532 | Ksh 461,991 |
| Year 9 | Ksh 48,445 | Ksh 863,413 | Ksh 451,555 |
| Year 10 | Ksh 61,155 | Ksh 952,020 | Ksh 438,845 |
| Year 11 | Ksh 76,634 | Ksh 1,037,859 | Ksh 423,366 |
| Year 12 | Ksh 95,484 | Ksh 1,120,327 | Ksh 404,516 |
| Year 13 | Ksh 118,441 | Ksh 1,198,687 | Ksh 381,559 |
| Year 14 | Ksh 146,398 | Ksh 1,272,048 | Ksh 353,602 |
| Year 15 | Ksh 180,446 | Ksh 1,339,318 | Ksh 319,554 |
| Year 16 | Ksh 221,910 | Ksh 1,399,171 | Ksh 278,090 |
| Year 17 | Ksh 272,406 | Ksh 1,449,993 | Ksh 227,594 |
| Year 18 | Ksh 333,902 | Ksh 1,489,814 | Ksh 166,098 |
| Year 19 | Ksh 408,794 | Ksh 1,516,240 | Ksh 91,206 |
| Year 20 | Ksh 500,000 | Ksh 1,526,352 | 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 20 years would run about Ksh 4,945/month — saving Ksh 839,559 in interest. See the Citibank N.A. Kenya version →