Ksh 5,000,000 loan at Middle East Bank for 3 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 5,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 185,487. Total cost: Ksh 6,677,528 (Ksh 1,677,528 interest).
Monthly repayment
Ksh 185,487
At 19.87% · 36 payments
Total repayment
Ksh 6,677,528
1.34× the borrowed amount
Total interest
Ksh 1,677,528
Ksh 398,915 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 1,351,005 | Ksh 874,838 | Ksh 3,648,995 |
| Year 2 | Ksh 2,996,302 | Ksh 1,455,383 | Ksh 2,003,698 |
| Year 3 | Ksh 5,000,000 | Ksh 1,677,528 | 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 3 years would run about Ksh 162,182/month — saving Ksh 838,964 in interest. See the Citibank N.A. Kenya version →