Ksh 10,000,000 loan at Prime Bank for 3 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 10,000,000 fixed-rate loan over 3 years has a monthly repayment of Ksh 350,534. Total cost: Ksh 12,619,240 (Ksh 2,619,240 interest).
Monthly repayment
Ksh 350,534
At 15.79% · 36 payments
Total repayment
Ksh 12,619,240
1.26× the borrowed amount
Total interest
Ksh 2,619,240
Ksh 62,013 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 2,826,154 | Ksh 1,380,260 | Ksh 7,173,846 |
| Year 2 | Ksh 6,132,312 | Ksh 2,280,515 | Ksh 3,867,688 |
| Year 3 | Ksh 10,000,000 | Ksh 2,619,240 | 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 3 years would run about Ksh 324,365/month — saving Ksh 942,111 in interest. See the Citibank N.A. Kenya version →