Ksh 10,000,000 loan at Prime Bank for 10 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 10,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 166,207. Total cost: Ksh 19,944,812 (Ksh 9,944,813 interest).
Monthly repayment
Ksh 166,207
At 15.79% · 120 payments
Total repayment
Ksh 19,944,812
1.99× the borrowed amount
Total interest
Ksh 9,944,813
Ksh 260,009 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 446,909 | Ksh 1,547,573 | Ksh 9,553,091 |
| Year 2 | Ksh 969,722 | Ksh 3,019,240 | Ksh 9,030,278 |
| Year 3 | Ksh 1,581,332 | Ksh 4,402,112 | Ksh 8,418,668 |
| Year 4 | Ksh 2,296,820 | Ksh 5,681,105 | Ksh 7,703,180 |
| Year 5 | Ksh 3,133,829 | Ksh 6,838,577 | Ksh 6,866,171 |
| Year 6 | Ksh 4,112,999 | Ksh 7,853,888 | Ksh 5,887,001 |
| Year 7 | Ksh 5,258,475 | Ksh 8,702,894 | Ksh 4,741,525 |
| Year 8 | Ksh 6,598,503 | Ksh 9,357,347 | Ksh 3,401,497 |
| Year 9 | Ksh 8,166,126 | Ksh 9,784,205 | Ksh 1,833,874 |
| Year 10 | Ksh 10,000,000 | Ksh 9,944,813 | 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 10 years would run about Ksh 134,152/month — saving Ksh 3,846,538 in interest. See the Citibank N.A. Kenya version →