Ksh 1,000,000 loan at Prime Bank for 25 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 1,000,000 fixed-rate loan over 25 years has a monthly repayment of Ksh 13,424. Total cost: Ksh 4,027,266 (Ksh 3,027,265 interest).
Monthly repayment
Ksh 13,424
At 15.79% · 300 payments
Total repayment
Ksh 4,027,266
4.03× the borrowed amount
Total interest
Ksh 3,027,265
Ksh 82,076 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 3,432 | Ksh 157,659 | Ksh 996,568 |
| Year 2 | Ksh 7,447 | Ksh 314,734 | Ksh 992,553 |
| Year 3 | Ksh 12,144 | Ksh 471,128 | Ksh 987,856 |
| Year 4 | Ksh 17,638 | Ksh 626,724 | Ksh 982,362 |
| Year 5 | Ksh 24,066 | Ksh 781,387 | Ksh 975,934 |
| Year 6 | Ksh 31,585 | Ksh 934,959 | Ksh 968,415 |
| Year 7 | Ksh 40,381 | Ksh 1,087,253 | Ksh 959,619 |
| Year 8 | Ksh 50,672 | Ksh 1,238,053 | Ksh 949,328 |
| Year 9 | Ksh 62,710 | Ksh 1,387,105 | Ksh 937,290 |
| Year 10 | Ksh 76,793 | Ksh 1,534,113 | Ksh 923,207 |
| Year 11 | Ksh 93,268 | Ksh 1,678,729 | Ksh 906,732 |
| Year 12 | Ksh 112,541 | Ksh 1,820,546 | Ksh 887,459 |
| Year 13 | Ksh 135,087 | Ksh 1,959,091 | Ksh 864,913 |
| Year 14 | Ksh 161,463 | Ksh 2,093,806 | Ksh 838,537 |
| Year 15 | Ksh 192,318 | Ksh 2,224,041 | Ksh 807,682 |
| Year 16 | Ksh 228,414 | Ksh 2,349,036 | Ksh 771,586 |
| Year 17 | Ksh 270,641 | Ksh 2,467,899 | Ksh 729,359 |
| Year 18 | Ksh 320,040 | Ksh 2,579,591 | Ksh 679,960 |
| Year 19 | Ksh 377,828 | Ksh 2,682,893 | Ksh 622,172 |
| Year 20 | Ksh 445,432 | Ksh 2,776,380 | Ksh 554,568 |
| Year 21 | Ksh 524,518 | Ksh 2,858,385 | Ksh 475,482 |
| Year 22 | Ksh 617,036 | Ksh 2,926,958 | Ksh 382,964 |
| Year 23 | Ksh 725,267 | Ksh 2,979,817 | Ksh 274,733 |
| Year 24 | Ksh 851,881 | Ksh 3,014,293 | Ksh 148,119 |
| Year 25 | Ksh 1,000,000 | Ksh 3,027,265 | 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 25 years would run about Ksh 9,342/month — saving Ksh 1,224,664 in interest. See the Citibank N.A. Kenya version →