Ksh 5,000,000 loan at Middle East Bank for 15 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 5,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 87,335. Total cost: Ksh 15,720,298 (Ksh 10,720,298 interest).
Monthly repayment
Ksh 87,335
At 19.87% · 180 payments
Total repayment
Ksh 15,720,298
3.14× the borrowed amount
Total interest
Ksh 10,720,298
Ksh 2,851,688 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 59,770 | Ksh 988,250 | Ksh 4,940,230 |
| Year 2 | Ksh 132,559 | Ksh 1,963,481 | Ksh 4,867,441 |
| Year 3 | Ksh 221,204 | Ksh 2,922,855 | Ksh 4,778,796 |
| Year 4 | Ksh 329,159 | Ksh 3,862,920 | Ksh 4,670,841 |
| Year 5 | Ksh 460,630 | Ksh 4,779,469 | Ksh 4,539,370 |
| Year 6 | Ksh 620,740 | Ksh 5,667,379 | Ksh 4,379,260 |
| Year 7 | Ksh 815,727 | Ksh 6,520,412 | Ksh 4,184,273 |
| Year 8 | Ksh 1,053,189 | Ksh 7,330,970 | Ksh 3,946,811 |
| Year 9 | Ksh 1,342,378 | Ksh 8,089,801 | Ksh 3,657,622 |
| Year 10 | Ksh 1,694,561 | Ksh 8,785,637 | Ksh 3,305,439 |
| Year 11 | Ksh 2,123,462 | Ksh 9,404,757 | Ksh 2,876,538 |
| Year 12 | Ksh 2,645,791 | Ksh 9,930,447 | Ksh 2,354,209 |
| Year 13 | Ksh 3,281,900 | Ksh 10,342,358 | Ksh 1,718,100 |
| Year 14 | Ksh 4,056,575 | Ksh 10,615,702 | Ksh 943,425 |
| Year 15 | Ksh 5,000,000 | Ksh 10,720,298 | 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 15 years would run about Ksh 54,837/month — saving Ksh 5,849,678 in interest. See the Citibank N.A. Kenya version →