Ksh 500,000 loan at Middle East Bank for 5 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 500,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 13,211. Total cost: Ksh 792,648 (Ksh 292,648 interest).
Monthly repayment
Ksh 13,211
At 19.87% · 60 payments
Total repayment
Ksh 792,648
1.59× the borrowed amount
Total interest
Ksh 292,648
Ksh 72,003 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 64,878 | Ksh 93,652 | Ksh 435,122 |
| Year 2 | Ksh 143,889 | Ksh 173,171 | Ksh 356,111 |
| Year 3 | Ksh 240,110 | Ksh 235,479 | Ksh 259,890 |
| Year 4 | Ksh 357,292 | Ksh 276,826 | Ksh 142,708 |
| Year 5 | Ksh 500,000 | Ksh 292,648 | 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 5 years would run about Ksh 10,712/month — saving Ksh 149,910 in interest. See the Citibank N.A. Kenya version →