Ksh 10,000,000 loan at Prime Bank for 15 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 10,000,000 fixed-rate loan over 15 years has a monthly repayment of Ksh 145,409. Total cost: Ksh 26,173,541 (Ksh 16,173,540 interest).
Monthly repayment
Ksh 145,409
At 15.79% · 180 payments
Total repayment
Ksh 26,173,541
2.62× the borrowed amount
Total interest
Ksh 16,173,540
Ksh 436,321 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 178,452 | Ksh 1,566,451 | Ksh 9,821,548 |
| Year 2 | Ksh 387,212 | Ksh 3,102,593 | Ksh 9,612,788 |
| Year 3 | Ksh 631,430 | Ksh 4,603,278 | Ksh 9,368,570 |
| Year 4 | Ksh 917,126 | Ksh 6,062,485 | Ksh 9,082,874 |
| Year 5 | Ksh 1,251,346 | Ksh 7,473,168 | Ksh 8,748,654 |
| Year 6 | Ksh 1,642,331 | Ksh 8,827,085 | Ksh 8,357,669 |
| Year 7 | Ksh 2,099,722 | Ksh 10,114,597 | Ksh 7,900,278 |
| Year 8 | Ksh 2,634,799 | Ksh 11,324,423 | Ksh 7,365,201 |
| Year 9 | Ksh 3,260,754 | Ksh 12,443,370 | Ksh 6,739,246 |
| Year 10 | Ksh 3,993,025 | Ksh 13,456,002 | Ksh 6,006,975 |
| Year 11 | Ksh 4,849,667 | Ksh 14,344,263 | Ksh 5,150,333 |
| Year 12 | Ksh 5,851,804 | Ksh 15,087,029 | Ksh 4,148,196 |
| Year 13 | Ksh 7,024,148 | Ksh 15,659,587 | Ksh 2,975,852 |
| Year 14 | Ksh 8,395,607 | Ksh 16,033,031 | Ksh 1,604,393 |
| Year 15 | Ksh 10,000,000 | Ksh 16,173,540 | 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 15 years would run about Ksh 109,674/month — saving Ksh 6,432,301 in interest. See the Citibank N.A. Kenya version →