Ksh 1,000,000 loan at Prime Bank for 3 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 1,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 35,053. Total cost: Ksh 1,261,924 (Ksh 261,924 interest).
Monthly repayment
Ksh 35,053
At 15.79% · 36 payments
Total repayment
Ksh 1,261,924
1.26× the borrowed amount
Total interest
Ksh 261,924
Ksh 6,201 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 282,615 | Ksh 138,026 | Ksh 717,385 |
| Year 2 | Ksh 613,231 | Ksh 228,051 | Ksh 386,769 |
| Year 3 | Ksh 1,000,000 | Ksh 261,924 | 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 3 years would run about Ksh 32,436/month — saving Ksh 94,211 in interest. See the Citibank N.A. Kenya version →