Ksh 5,000,000 loan at Middle East Bank for 2 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 5,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 254,162. Total cost: Ksh 6,099,878 (Ksh 1,099,878 interest).
Monthly repayment
Ksh 254,162
At 19.87% · 24 payments
Total repayment
Ksh 6,099,878
1.22× the borrowed amount
Total interest
Ksh 1,099,878
Ksh 256,363 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 2,254,453 | Ksh 795,486 | Ksh 2,745,547 |
| Year 2 | Ksh 5,000,000 | Ksh 1,099,878 | 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 2 years would run about Ksh 231,556/month — saving Ksh 542,527 in interest. See the Citibank N.A. Kenya version →