Ksh 1,000,000 loan at Prime Bank for 20 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 13,755. Total cost: Ksh 3,301,260 (Ksh 2,301,259 interest).
Monthly repayment
Ksh 13,755
At 15.79% · 240 payments
Total repayment
Ksh 3,301,260
3.30× the borrowed amount
Total interest
Ksh 2,301,259
Ksh 62,665 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 7,705 | Ksh 157,358 | Ksh 992,295 |
| Year 2 | Ksh 16,718 | Ksh 313,408 | Ksh 983,282 |
| Year 3 | Ksh 27,262 | Ksh 467,926 | Ksh 972,738 |
| Year 4 | Ksh 39,598 | Ksh 620,654 | Ksh 960,402 |
| Year 5 | Ksh 54,028 | Ksh 771,287 | Ksh 945,972 |
| Year 6 | Ksh 70,909 | Ksh 919,469 | Ksh 929,091 |
| Year 7 | Ksh 90,657 | Ksh 1,064,784 | Ksh 909,343 |
| Year 8 | Ksh 113,759 | Ksh 1,206,744 | Ksh 886,241 |
| Year 9 | Ksh 140,785 | Ksh 1,344,781 | Ksh 859,215 |
| Year 10 | Ksh 172,402 | Ksh 1,478,228 | Ksh 827,598 |
| Year 11 | Ksh 209,388 | Ksh 1,606,305 | Ksh 790,612 |
| Year 12 | Ksh 252,656 | Ksh 1,728,100 | Ksh 747,344 |
| Year 13 | Ksh 303,272 | Ksh 1,842,546 | Ksh 696,728 |
| Year 14 | Ksh 362,486 | Ksh 1,948,395 | Ksh 637,514 |
| Year 15 | Ksh 431,757 | Ksh 2,044,188 | Ksh 568,243 |
| Year 16 | Ksh 512,793 | Ksh 2,128,215 | Ksh 487,207 |
| Year 17 | Ksh 607,592 | Ksh 2,198,478 | Ksh 392,408 |
| Year 18 | Ksh 718,493 | Ksh 2,252,641 | Ksh 281,507 |
| Year 19 | Ksh 848,229 | Ksh 2,287,967 | Ksh 151,771 |
| Year 20 | Ksh 1,000,000 | Ksh 2,301,259 | 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 20 years would run about Ksh 9,890/month — saving Ksh 927,675 in interest. See the Citibank N.A. Kenya version →