Ksh 1,000,000 loan at Prime Bank for 2 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 1,000,000 fixed-rate loan over 2 years has a monthly repayment of Ksh 48,863. Total cost: Ksh 1,172,708 (Ksh 172,708 interest).
Monthly repayment
Ksh 48,863
At 15.79% · 24 payments
Total repayment
Ksh 1,172,708
1.17× the borrowed amount
Total interest
Ksh 172,708
Ksh 4,005 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 460,863 | Ksh 125,491 | Ksh 539,137 |
| Year 2 | Ksh 1,000,000 | Ksh 172,708 | 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 2 years would run about Ksh 46,311/month — saving Ksh 61,238 in interest. See the Citibank N.A. Kenya version →