Ksh 5,000,000 loan at Middle East Bank for 10 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 5,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 96,197. Total cost: Ksh 11,543,671 (Ksh 6,543,672 interest).
Monthly repayment
Ksh 96,197
At 19.87% · 120 payments
Total repayment
Ksh 11,543,671
2.31× the borrowed amount
Total interest
Ksh 6,543,672
Ksh 1,701,270 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 176,357 | Ksh 978,010 | Ksh 4,823,643 |
| Year 2 | Ksh 391,130 | Ksh 1,917,604 | Ksh 4,608,870 |
| Year 3 | Ksh 652,688 | Ksh 2,810,413 | Ksh 4,347,312 |
| Year 4 | Ksh 971,222 | Ksh 3,646,246 | Ksh 4,028,778 |
| Year 5 | Ksh 1,359,143 | Ksh 4,412,692 | Ksh 3,640,857 |
| Year 6 | Ksh 1,831,566 | Ksh 5,094,637 | Ksh 3,168,434 |
| Year 7 | Ksh 2,406,899 | Ksh 5,673,671 | Ksh 2,593,101 |
| Year 8 | Ksh 3,107,557 | Ksh 6,127,380 | Ksh 1,892,443 |
| Year 9 | Ksh 3,960,842 | Ksh 6,428,463 | Ksh 1,039,158 |
| Year 10 | Ksh 5,000,000 | Ksh 6,543,672 | 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 5,000,000 loan over 10 years would run about Ksh 67,076/month — saving Ksh 3,494,534 in interest. See the Citibank N.A. Kenya version →