Ksh 1,000,000 loan at Prime Bank for 15 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 1,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 14,541. Total cost: Ksh 2,617,355 (Ksh 1,617,354 interest).
Monthly repayment
Ksh 14,541
At 15.79% · 180 payments
Total repayment
Ksh 2,617,355
2.62× the borrowed amount
Total interest
Ksh 1,617,354
Ksh 43,632 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 17,845 | Ksh 156,645 | Ksh 982,155 |
| Year 2 | Ksh 38,721 | Ksh 310,259 | Ksh 961,279 |
| Year 3 | Ksh 63,143 | Ksh 460,328 | Ksh 936,857 |
| Year 4 | Ksh 91,713 | Ksh 606,248 | Ksh 908,287 |
| Year 5 | Ksh 125,135 | Ksh 747,317 | Ksh 874,865 |
| Year 6 | Ksh 164,233 | Ksh 882,709 | Ksh 835,767 |
| Year 7 | Ksh 209,972 | Ksh 1,011,460 | Ksh 790,028 |
| Year 8 | Ksh 263,480 | Ksh 1,132,442 | Ksh 736,520 |
| Year 9 | Ksh 326,075 | Ksh 1,244,337 | Ksh 673,925 |
| Year 10 | Ksh 399,302 | Ksh 1,345,600 | Ksh 600,698 |
| Year 11 | Ksh 484,967 | Ksh 1,434,426 | Ksh 515,033 |
| Year 12 | Ksh 585,180 | Ksh 1,508,703 | Ksh 414,820 |
| Year 13 | Ksh 702,415 | Ksh 1,565,959 | Ksh 297,585 |
| Year 14 | Ksh 839,561 | Ksh 1,603,303 | Ksh 160,439 |
| Year 15 | Ksh 1,000,000 | Ksh 1,617,354 | 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 15 years would run about Ksh 10,967/month — saving Ksh 643,230 in interest. See the Citibank N.A. Kenya version →