Ksh 5,000,000 loan at Middle East Bank for 20 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 5,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 84,431. Total cost: Ksh 20,263,514 (Ksh 15,263,515 interest).
Monthly repayment
Ksh 84,431
At 19.87% · 240 payments
Total repayment
Ksh 20,263,514
4.05× the borrowed amount
Total interest
Ksh 15,263,515
Ksh 4,070,542 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 21,570 | Ksh 991,605 | Ksh 4,978,430 |
| Year 2 | Ksh 47,839 | Ksh 1,978,512 | Ksh 4,952,161 |
| Year 3 | Ksh 79,831 | Ksh 2,959,697 | Ksh 4,920,169 |
| Year 4 | Ksh 118,791 | Ksh 3,933,912 | Ksh 4,881,209 |
| Year 5 | Ksh 166,238 | Ksh 4,899,641 | Ksh 4,833,762 |
| Year 6 | Ksh 224,020 | Ksh 5,855,035 | Ksh 4,775,980 |
| Year 7 | Ksh 294,389 | Ksh 6,797,841 | Ksh 4,705,611 |
| Year 8 | Ksh 380,087 | Ksh 7,725,319 | Ksh 4,619,913 |
| Year 9 | Ksh 484,453 | Ksh 8,634,129 | Ksh 4,515,547 |
| Year 10 | Ksh 611,553 | Ksh 9,520,204 | Ksh 4,388,447 |
| Year 11 | Ksh 766,340 | Ksh 10,378,594 | Ksh 4,233,660 |
| Year 12 | Ksh 954,844 | Ksh 11,203,265 | Ksh 4,045,156 |
| Year 13 | Ksh 1,184,411 | Ksh 11,986,874 | Ksh 3,815,589 |
| Year 14 | Ksh 1,463,985 | Ksh 12,720,476 | Ksh 3,536,015 |
| Year 15 | Ksh 1,804,459 | Ksh 13,393,178 | Ksh 3,195,541 |
| Year 16 | Ksh 2,219,100 | Ksh 13,991,713 | Ksh 2,780,900 |
| Year 17 | Ksh 2,724,063 | Ksh 14,499,926 | Ksh 2,275,938 |
| Year 18 | Ksh 3,339,023 | Ksh 14,898,141 | Ksh 1,660,977 |
| Year 19 | Ksh 4,087,942 | Ksh 15,162,398 | Ksh 912,058 |
| Year 20 | Ksh 5,000,000 | Ksh 15,263,515 | 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 20 years would run about Ksh 49,450/month — saving Ksh 8,395,594 in interest. See the Citibank N.A. Kenya version →