Ksh 500,000 loan at Middle East Bank for 3 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 500,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 18,549. Total cost: Ksh 667,753 (Ksh 167,753 interest).
Monthly repayment
Ksh 18,549
At 19.87% · 36 payments
Total repayment
Ksh 667,753
1.34× the borrowed amount
Total interest
Ksh 167,753
Ksh 39,891 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 135,100 | Ksh 87,484 | Ksh 364,900 |
| Year 2 | Ksh 299,630 | Ksh 145,538 | Ksh 200,370 |
| Year 3 | Ksh 500,000 | Ksh 167,753 | 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 3 years would run about Ksh 16,218/month — saving Ksh 83,896 in interest. See the Citibank N.A. Kenya version →