Ksh 500,000 loan at Middle East Bank for 25 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 500,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 8,340. Total cost: Ksh 2,501,886 (Ksh 2,001,887 interest).
Monthly repayment
Ksh 8,340
At 19.87% · 300 payments
Total repayment
Ksh 2,501,886
5.00× the borrowed amount
Total interest
Ksh 2,001,887
Ksh 529,293 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 795 | Ksh 99,280 | Ksh 499,205 |
| Year 2 | Ksh 1,764 | Ksh 198,387 | Ksh 498,236 |
| Year 3 | Ksh 2,944 | Ksh 297,283 | Ksh 497,056 |
| Year 4 | Ksh 4,380 | Ksh 395,922 | Ksh 495,620 |
| Year 5 | Ksh 6,130 | Ksh 494,248 | Ksh 493,870 |
| Year 6 | Ksh 8,260 | Ksh 592,193 | Ksh 491,740 |
| Year 7 | Ksh 10,855 | Ksh 689,674 | Ksh 489,145 |
| Year 8 | Ksh 14,015 | Ksh 786,589 | Ksh 485,985 |
| Year 9 | Ksh 17,863 | Ksh 882,816 | Ksh 482,137 |
| Year 10 | Ksh 22,550 | Ksh 978,205 | Ksh 477,450 |
| Year 11 | Ksh 28,257 | Ksh 1,072,573 | Ksh 471,743 |
| Year 12 | Ksh 35,208 | Ksh 1,165,698 | Ksh 464,792 |
| Year 13 | Ksh 43,672 | Ksh 1,257,309 | Ksh 456,328 |
| Year 14 | Ksh 53,981 | Ksh 1,347,076 | Ksh 446,019 |
| Year 15 | Ksh 66,535 | Ksh 1,434,597 | Ksh 433,465 |
| Year 16 | Ksh 81,824 | Ksh 1,519,384 | Ksh 418,176 |
| Year 17 | Ksh 100,443 | Ksh 1,600,840 | Ksh 399,557 |
| Year 18 | Ksh 123,119 | Ksh 1,678,240 | Ksh 376,881 |
| Year 19 | Ksh 150,733 | Ksh 1,750,701 | Ksh 349,267 |
| Year 20 | Ksh 184,363 | Ksh 1,817,147 | Ksh 315,637 |
| Year 21 | Ksh 225,319 | Ksh 1,876,266 | Ksh 274,681 |
| Year 22 | Ksh 275,196 | Ksh 1,926,465 | Ksh 224,804 |
| Year 23 | Ksh 335,939 | Ksh 1,965,798 | Ksh 164,061 |
| Year 24 | Ksh 409,912 | Ksh 1,991,900 | Ksh 90,088 |
| Year 25 | Ksh 500,000 | Ksh 2,001,887 | 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 25 years would run about Ksh 4,671/month — saving Ksh 1,100,587 in interest. See the Citibank N.A. Kenya version →