Ksh 1,000,000 loan at Prime Bank for 5 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 1,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 24,207. Total cost: Ksh 1,452,397 (Ksh 452,397 interest).
Monthly repayment
Ksh 24,207
At 15.79% · 60 payments
Total repayment
Ksh 1,452,397
1.45× the borrowed amount
Total interest
Ksh 452,397
Ksh 11,106 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 142,608 | Ksh 147,872 | Ksh 857,392 |
| Year 2 | Ksh 309,437 | Ksh 271,522 | Ksh 690,563 |
| Year 3 | Ksh 504,601 | Ksh 366,838 | Ksh 495,399 |
| Year 4 | Ksh 732,912 | Ksh 429,006 | Ksh 267,088 |
| Year 5 | Ksh 1,000,000 | Ksh 452,397 | 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 5 years would run about Ksh 21,425/month — saving Ksh 166,920 in interest. See the Citibank N.A. Kenya version →