Ksh 10,000,000 loan at Prime Bank for 5 years.
At Prime Bank's current lending rate of 15.79%, a Ksh 10,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 242,066. Total cost: Ksh 14,523,971 (Ksh 4,523,971 interest).
Monthly repayment
Ksh 242,066
At 15.79% · 60 payments
Total repayment
Ksh 14,523,971
1.45× the borrowed amount
Total interest
Ksh 4,523,971
Ksh 111,062 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 1,426,079 | Ksh 1,478,715 | Ksh 8,573,921 |
| Year 2 | Ksh 3,094,368 | Ksh 2,715,220 | Ksh 6,905,632 |
| Year 3 | Ksh 5,046,006 | Ksh 3,668,377 | Ksh 4,953,994 |
| Year 4 | Ksh 7,329,117 | Ksh 4,290,060 | Ksh 2,670,883 |
| Year 5 | Ksh 10,000,000 | Ksh 4,523,971 | 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 5 years would run about Ksh 214,246/month — saving Ksh 1,669,203 in interest. See the Citibank N.A. Kenya version →