Ksh 1,000,000 loan at Prime Bank for 10 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 1,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 16,621. Total cost: Ksh 1,994,482 (Ksh 994,481 interest).
Monthly repayment
Ksh 16,621
At 15.79% · 120 payments
Total repayment
Ksh 1,994,482
1.99× the borrowed amount
Total interest
Ksh 994,481
Ksh 26,001 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 44,691 | Ksh 154,757 | Ksh 955,309 |
| Year 2 | Ksh 96,972 | Ksh 301,924 | Ksh 903,028 |
| Year 3 | Ksh 158,133 | Ksh 440,211 | Ksh 841,867 |
| Year 4 | Ksh 229,682 | Ksh 568,111 | Ksh 770,318 |
| Year 5 | Ksh 313,383 | Ksh 683,858 | Ksh 686,617 |
| Year 6 | Ksh 411,300 | Ksh 785,389 | Ksh 588,700 |
| Year 7 | Ksh 525,848 | Ksh 870,289 | Ksh 474,152 |
| Year 8 | Ksh 659,850 | Ksh 935,735 | Ksh 340,150 |
| Year 9 | Ksh 816,613 | Ksh 978,421 | Ksh 183,387 |
| Year 10 | Ksh 1,000,000 | Ksh 994,481 | 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 1,000,000 loan over 10 years would run about Ksh 13,415/month — saving Ksh 384,654 in interest. See the Citibank N.A. Kenya version →