Ksh 10,000,000 loan at Prime Bank for 1 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 10,000,000 fixed-rate loan over 1 year has a monthly repayment of Ksh 906,315. Total cost: Ksh 10,875,781 (Ksh 875,781 interest).
Monthly repayment
Ksh 906,315
At 15.79% · 12 payments
Total repayment
Ksh 10,875,781
1.09× the borrowed amount
Total interest
Ksh 875,781
Ksh 19,853 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 10,000,000 | Ksh 875,781 | 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 10,000,000 loan over 1 years would run about Ksh 880,834/month — saving Ksh 305,772 in interest. See the Citibank N.A. Kenya version →