Ksh 5,000,000 loan at Middle East Bank for 5 years.
At Middle East Bank's current lending rate of 19.87%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 132,108. Total cost: Ksh 7,926,481 (Ksh 2,926,481 interest).
Monthly repayment
Ksh 132,108
At 19.87% · 60 payments
Total repayment
Ksh 7,926,481
1.59× the borrowed amount
Total interest
Ksh 2,926,481
Ksh 720,026 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 648,780 | Ksh 936,516 | Ksh 4,351,220 |
| Year 2 | Ksh 1,438,886 | Ksh 1,731,707 | Ksh 3,561,114 |
| Year 3 | Ksh 2,401,102 | Ksh 2,354,786 | Ksh 2,598,898 |
| Year 4 | Ksh 3,572,921 | Ksh 2,768,264 | Ksh 1,427,079 |
| Year 5 | Ksh 5,000,000 | Ksh 2,926,481 | 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 5 years would run about Ksh 107,123/month — saving Ksh 1,499,097 in interest. See the Citibank N.A. Kenya version →